Transelectrica reported a net profit of RON203.3 million in 2013, of which RON163.3 million will be paid in dividends.
The company estimates its net profit will fall to RON96.9 million this year, due to higher costs. Revenues are projected at RON2.6 billion, flat on the year, while costs are expected to rise 6.8% to RON2.48 billion.
Transelectrica is 58.69%-owned by the state, through the government’s General Secretariat, while investment fund Fondul Proprietatea holds a 13.5% stake. The remaining shares are traded on the Bucharest stock exchange.
Monday, Transelectrica closed down 4.2% at RON18.01 a share. (EUR1=RON4.4403)