Enel Romania has a portfolio of around 2.5 million clients, distributing and supplying electric power to the consumers in Muntenia Sud, Banat and Dobrogea.
Italian utility group Enel said it registered earnings before interest, tax, depreciation and amortization (EBITDA) of EUR138 million in Romania in the first half of 2015, down 6.1% from same period a year ago.
Despite the decreasing results, the local market is one of the most lucrative for the group, the operating margin between EBITDA/revenue being of almost 28%, a high level compared with companies in other activity fields considering that Enel is working on a regulated market.
According to Enel’s financial report, Columbia and Peru are the only countries with a higher operating margin than Romania, with 47.7% and 40%, respectively.
Also, Enel Romania’s EBITDA is mostly made up of the distribution segment, of which the group cashed EUR119 million in 2014, while the supply sector had a EUR16 million inflow, according to the report.
Enel is also one of the most powerful investors in the renewable sector in Romania, with a portfolio of 534 MW (498 MW in the wind sector and 36 MW in the solar sector), which is worth some EUR800 million based on the average necessary investment for one megawatt installed in a wind park. According to the most recent report of the energy regulator ANRE, the necessary investment to set up a megawatt in a wind part is at around EUR1.5 million, while in 2015 it was worth EUR1.25 million.
Thus, Enel generated 736 GWh of energy through these projects, worth EUR24 million, based on the average energy price on OPCOM market in the first half of 2015 that set at EUR32.6 per MWh. This value is added the earnings from green certificates.
Enel bought electricity supply and distribution companies Electrica Banat and Electrica Dobrogea in 2005 from the Romanian state. In 2008, the company also bought Electrica Muntenia Sud, which supplies electricity in capital Bucharest.
(English version by Manuela Panescu)