The distribution segment saw a 7% rise in revenue due to 1.7% higher volumes of distributed electricity for the three distribution operators within the group. The electricity supply segment saw a 4.7% drop in net income, mainly due to 9.7% lower amounts of electricity supplied.
The company’s Board of Directors will send for approval to the General Assembly of Shareholders a proposition to distribute a gross dividend of RON0.7237 per share, for the financial year ended on December 31, 2017. The yield of the dividend proposed is 6.3%, pondering in the price of one Electrica share on the Bucharest Stock Exchange on March 5, 2018. The total gross value of dividends reaches RON245.4 million, which represents 100% of the distributable net profit.
Electrica Group reported a consolidated net profit of RON172 million in 2017, down 63% on the year, which was due mainly to significant increases in electricity acquisition costs and major imbalances on the electricity market, especially in the first two quarters of the year.
In 2017, Electrica Group distributed approximately 17.8 TWh (up 1.7% from 2016) towards some 3.7 million users. Distribution operators within the group distributed approximately 40% of the total electricity distributed countywide.
The budget proposition for 2018 includes a net profit of RON240 million and a consolidated net profit of RON254 million.
Electrica is a privately-owned company and is listed on the Bucharest and London Stock Exchanges.