Transelectrica registered operating revenues of RON2.768 billion in 2012, down 11.62% from RON3.132 billion in 2011.
It also estimates its operating revenues will see a slight increase of 0.52% to 0.63% over the next three year, reaching RON2.783 billion in 2017.
Costs are seen reaching RON2.674 billion this year, down a mere 0.4% from 2012, and are expected to go up by 4.36% to RON2.609 billion in 2014, and decline by 0.09% to RON2.607 billion in 2015. For 2016 and 2017, the company envisages slightly higher costs to RON2.615 billion and RON2.626 billion, respectively.
The company’s budget of revenues and expenses for 2013 was approved mid-May through a government decision and is subject to shareholder approval at a meeting scheduled for September 30.
Transelectrica planned investments worth a total RON2.215 billion in its electricity transport network in the next four years: RON495 million in 2014, RON523 million in 2015, RON575 million in 2016 and RON622 million in 2017. The company allotted RON330 million for investments this year.
The company registered turnover of RON1.097 billion in the first half of 2013, down 24% on the year, while its profit climbed five times to RON102.7 million.
Transelectrica is controlled by the Finance Ministry (58.69%). Other main shareholders include investment Fund Fondul Proprietatea (FP.RO) (13.5%) and regional investment fund SIF Oltenia (SIF5.RO) (7.11%).
On the Bucharest Stock Exchange Wednesday, Transelectrica closed down 0.52% at RON13.29 a share.