On the profit allowed activity segment, the company’s revenues grew a slight 0.4% in 2018, to RON1.1 billion, due to an increase in regulated tariffs starting July 1 and a 2% increase in the quantity of billed energy.
Its operating profit grew 54% compared with 2017, as total operating costs, including amortization, decreased 13% compensating a drop of 11% in operating revenues, the company said in its preliminary earnings report.
Total operating revenues decreased 11% in 2018, to RON2.71 billion from RON3.06 billion in 2017.
The company’s long-term debt stood at RON630 million at the end of 2018, 8% lower than in 2017. Short-term debt increased 10%, to RON1.215 billion at the end of 2018 from RON1.108 billion at the end of 2017.