“Of this amount, RON689 million represents the 2022 annual investment plan of the distribution subsidiary Distributie Energie Electrica Romania S.A. regarding the investments (the financial part of the investments’ individual plan); RON 47.2 million represents the 2022 annual investment plan of Electrica Furnizare S.A. regarding the investments (the financial part of the investments’ individual plan); RON 3.6 million represents the 2022 annual investment plan of Electrica Serv S.A. regarding the investments (the financial part of the investments’ individual plan),” the company said in a stock market report.
Electrica envisages losses of RON342 million in 2022, compared to losses of RON553 million in 2021, while revenues are expected to grow by 50% to RON11 billion.
The company ended 2021 with losses of RON553 million (EUR110 million) on a consolidated level, versus a net profit of RON388 million in 2020, and with revenues of RON7.2 billion, up 10% on the year, in line with the annual report.
Costs with electricity and natural gas purchased are expected to increase by 53% to RON8.7 billion.
Costs with electricity and natural gas purchased for the supply activity are projected to grow by almost RON2.6 billion, mainly as a result of an average increase of 88% in the electricity purchase price, an impact slightly reduced by a decline in the amount of electricity budgeted to be acquired in 2022.
Electrica, 49% owned by the Romanian State, has a stock market capitalization of RON3.2 billion and its shares have lost 8% since the beginning of 2022, as per stock market data.