In 2013, the company posted net profit of RON39.4 million.
The remarkable development of the profit is due to the finance income increase following the improvement in the financial results of Electrica’s subsidiaries, which raised their dividend payment towards the mother company, said Ioan Rosca, general manager of Electrica.
Last year, the company registered RON257.6 million as finance income, compared with almost RON96 million in 2013, according to the preliminary financial report released Monday.
The operational activity also improved, as Electrica registered an operating profit of RON0.1 million, versus a RON53 million loss a year ago, despite a decline in revenue.
The operating revenue was down 16% to RON249 million in 2014, due to a decrease in the value of contracts with the company’s subsidiaries, Electrica said in a statement.
Electrica distributes electricity to three regions of Romania and is the largest power supplier in the country.
The group includes three distribution companies, one power supply firm and one energy maintenance services provider.
Electrica is 48.78% owned by the Romanian state, through the Energy Ministry, while the remainder is traded on the Bucharest and London stock exchanges.