“On one hand, the distribution segment needs important investments and on the other hand, we are already developing modernization projects for boosting efficiency and increasing the quality of services,” said Ioan Rosca, the company’s general manager.
Thus, until 2018, Electrica plans to upgrade nearly 4,000 km of low voltage network, carry out an integrated assets management system and install over 500,000 smart counters, among others.
Electrica is a holding company for a group which comprises four electricity distribution subsidiaries, one supply company and three service firms. The Romanian government holds a 48.8% interest in Electrica, while EBRD holds an 8.66% stake.
For 2015, Electrica expects sales of RON5.662 billion and a net profit of RON460.7 million.
In 2014, Electrica registered, on a group level, a turnover of RON5.044 billion and a net profit of RON401.4 million, of which RON287.84 million represents net profit attributable to shareholders.