Financings will be guaranteed by Electrica SA, shareholder of Electrica Furnizare, within the limit of RON1.65 billion.
Electrica Furnizare SA was established in 2011 through the merger of former branches Electrica Furnizare Muntenia Nord, Electrica Furnizare Transilvania Nord and Electrica Furnizare Transilvania Sud.
Electrica, 49% owned by the energy ministry, expects loss of RON342 million in 2022 compared with loss of RON553 million in 2021, and 50% higher revenue of RON11 billion. Expenses with the acquisition of electricity and natural gas are envisaged at RON8.7 billion, up 53% on the year.
According to the budget of revenue and expenditure subject to shareholders’ vote at their general meeting of April 20, Electrica is expected to report loss for the second consecutive year due to high electricity prices.
Electrica has a stock market capitalization of RON3 billion and its shares have lost 11.7% in 2022.