“In the context of profound and fast transformations in the energy market, one dominated by unpredictability, energy trading prices have risen significantly in the last period, reaching record levels even in the Romanian market. This evolution, difficult to anticipate, determined by factors external to the company, generated a significant increase in the electricity purchase costs. Despite our risk management policies, part of the effect was also felt on the financial results for first half of the year,” Electrica chief executive officer Corina Popescu said.
“This effect is also highlighted by the comparison with the performance recorded in 2020 on the supply segment, an exceptional one, which also came from the favorable effect of the recoveries related to the previous years.
However, we are a solid company and we have taken responsibility towards our customers, making every effort to maintain a balance, including by costs optimization for the end-customer, even in this unfavorable context.”
Consolidated EBITDA decreased by RON129 million to RON357 million compared with the year-ago period.
Total revenue of the Electrica group amounted to RON3.3 billion in the first half, a 2% increase on the first half of 2020.
(English version by Loredana Fratila-Cristescu)