In January to March, state-owned Transelectrica reported sales of RON884.2 million (EUR203 million), up 17.7% from RON750.8 million in the same period of 2011.
The earnings before interest and tax, or EBIT, halved to RON71.6 million from RON150.6 million in January-March 2011. The bottom line was also hurt by a financial loss of RON13.9 million, compared with a financial profit of RON45.2 million in the first three months of last year.
Transelectrica’s revenue increased 11% to RON900.1 million, while overall costs rose 37% on the year to RON843 million.
On the Bucharest stock exchange, Transelectrica shares traded down 2.2% Monday morning in line with the general market trend. (EUR1=RON4.4265)