The company had a turnover of RON1.44 billion in 2019, nearly 1% lower on the year, while employee number grew to 4,800 from 4,200 in 2018.
2019 was the second consecutive year of loss for Delgaz Grid and its turnover was the lowest in five years.
The company announced recently it plans to invest RON1.9 billion until 2023 in upgrades to the networks it operates on the local market. It said RON1.06 billion will be invested in modernizing the electricity distribution network and RON836 million in natural gas distribution pipelines.
In 2019 Delgaz Grid invested RON457 million, of which RON242 million in modernizing the electricity distribution network and RON215 million in gas distribution pipelines.
For 2020 the company’s investment budget is almost the same as last year’s, namely, RON456 million.
Delgaz Grid operates over 23,000 km of natural gas distribution pipelines in 20 counties in northern and western Romania and an electricity distribution network of nearly 81,900 km in six counties in eastern Romania. Since entering the Romanian market in 2005, E.ON invested approximately EUR1.7 billion in modernizing gas and electricity networks.