Nuclearelectrica ended the first three months of the year with a net profit of RON 189.997 thousand, 51.7 percent higher than the similar period of the last year, according to the financial report sent to the Bucharest Stock Exchange.
The operating result (EBIT) has registered a 44.4 percent increase, while EBITDA registered an increase of 25.1 percent compared to the same period of the last year, mainly due to the increase of the operating income with 15 percent influenced by the increase in energy sales of 11.8 percent.
”Following the full liberalization of the energy market starting with January 1st 2018, Nuclearelectrica’s sales strategy was reconfigured in compliance with the new market conditions, with focus on the forward market and on long term contracts and stable prices, in order to capitalize the production of the units,” the report reads.
The net production of electricity of the two units in the first quarter of 2018 was of 2.950.627 MWh.
During the three months period concluded on 31 March 2018, the company did not sell energy on the regulated market (11 percent during the first three months of 2017), registering an increase of 12 percent of the quantity of energy sold on the competitive market compared to the similar period of the previous year.
Compared to the same period of last year, the quantity of energy sold on the competitive market for bilateral contracts increased by 11 percent, capitalizing on an incrase of the average sale prices on this market of 24 percent, while the quantity of energy sold on the spot market (PZU) increased with 17 percent while the average price on this market was lower by 32 percent.
The total value of the investment program of Nuclearelectrica for 2018 is RON 244,867 thousand (without the component allocated to the payment of the debt service related to long-term loans). On end-March 2018, the value of the investment program was 3.5 percent, at an investment program value of RON 244,867 thousand for the year. The target level at the end of the first quarter of 2017, also considered for the first quarter of 2018, was at least 5 percent. Thus, a 3.5 percent achievement rate of at least 5 percent is a 70 percent achievement of the investment plan to be achieved in the first quarter of 2018.