The trader held by businessman Augustin Oancea therefore posted an over 40% increase on 2013, a better than budgeted performance, considering its officials estimated early in 2014 that full-year revenue would reach RON2.13 billion.
One of the reasons for this growth was the higher volume of electricity sold, on a market where the average spot trading price stayed almost the same.
On the other hand, net profit did not meet expectations. The trader had budgeted RON90 million but ended the year with RON40.7 million net profit, almost half the 2013 level.
Energy market watchdog ANRE reports show Tinmar Ind’s market share on the competitive segment grew to 12.5% last year, compared with 8.4% in 2013. The trader sold 3.6 TWh of power in 2014, 76% more than in the previous year. The amount of power Tinmar Ind sold last year is enough to cover 7% of Romania’s 2014 consumption.
Tinmar Ind said early this year it already had more than 350 customers. According to the data available at the time, its customers included Automobile Dacia, Kronospan and Interagro plants. Last fall it also signed a one-year contract to sell power to ArcelorMittal Galati, the second largest electricity consumer in Romania. (EUR1=RON4.4351)
(English version by Loredana Fratila-Cristescu)