Operating revenue amounted to RON2.36 billion, down 1.2% on the year, on lower quantities of transported electricity, the company said in its preliminary earnings report.
The company’s EBIDTA stood at RON437 million in 2020, up 11% compared with 2019.
Operating expenses dropped 3.6%, to RON2.1 billion, and the comapny’s operating profit grew 46% on the year, to RON169 million.
Transelectrica’s investments in acquisitions amounted to RON371 million in 2020, up 53% on the year.
Domestic electricity production amounted to 53 Twh, down 5% compared with 2019, and net imports of electricity grew 84%, to 2.8 TWh. Domestic electricity consumption decreased 3.4% on the year, to 55.7 TWh.
As a result of the relaxation of the restrictions both in Europe and in Romania, domestic electricity consumption registered a revival. While in April, May and June 2020 consumption declines ranged from -14.73% in April to -11.85% in May and -8.05% in June, starting July consumption decreases ranged from -1.8% in July to -2.78% in August and grew a slight 0.23% in September.
All in all, the third quarter of 2020 ended with low electricity consumption all over Europe compared with the third quarter of 2019 but values were closer to those of the previous year, unlike the second quarter which was strongly impacted by the Covid-19 crisis.
In the last quarter of 2020 the gross domestic consumption of electricity registered a comeback (except for October, which saw a -0.26% decrease), with consumption growth of 2.87% in November and 3.3% in December, the company noted in its report.
The electricity generation mix structure in 2020 was 34% thermal power, 29% hydropower, 17% renewable and 20% nuclear.
The thermal component declined by approximately 15% in the generation mix in 2020 compared with 2019, while renewable grew 2.1% and nuclear power grew 2%.
Transelectrica had total assets of RON5.12 billion at the end of 2020.
The company is 58.7% owned by the Romanian state and has a stock market capitalization of RON2.1 billion.