February 15 (SeeNews) - Romanian power grid operator Transelectrica [BSE:TEL] said on Friday that it booked a net loss of 6 million lei ($1.4 million/1.2 million euro) in 2021, compared to a 145 million lei net profit in 2020.
The result was mainly influenced by high interest rates and the exchange rate of the Romanian leu against the euro, the currency in which the company has contracted bank loans to finance investment programmes, Transelectrica said in a filing to the Bucharest Stock Exchange, BVB.
Transelectrica's total revenues rose 12% to 1.345 billion lei in 2021 on the back of larger electricity volumes delivered to consumers and higher average transmission fees.
Total operating expenses increased by 29% to 1.1 billion lei in 2021, while earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell 29% year-on-year to 240 million lei.
In 2021, electricity production and consumption increased by 6% and 5%, respectively. Cross-border exports fell by an annual 5%, while cross-border import flows registered a 12% annual drop in 2021.
Transelectrica's investments for the acquisition of tangible and intangible assets was 466 million lei in 2021, up 24%, while investments in fixed assets rose 45% on the year to 256 million lei.
Blue-chip Transelectrica's shares traded 0.99% lower at 20.1 lei as at 1120 CET on Tuesday on the BVB.
(1 euro=4.9455 lei)
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