Nuclearelectrica’s net profit in Q1, up by 26 pc; electricity production, in slight decrease

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Nuclearelectrica (SNN – stock symbol) registered a net profit of RON 84.05 million in Q1, 25.7 percent higher than the similar period of the last year, according to data submitted on Friday to the Bucharest Stock Exchange (BVB). The operating result (EBIT) has registered a 41.5 percent increase, while EBITDA registered an increase of 18.1 percent compared to the same period of the last year.

The 25.7 percent increase in the net profit, compared to the operating gross profit increase of 41.5 percent, is determined by the fact that in the first quarter of 2017 a net financial expense of RON 1,838 thousand was incurred, compared to the similar period of 2016, when a net financial income of RON 10,300 thousand was registered, expense generated by the net currency exchange differences.

The income achieved on the electricity market related to the electricity delivered in the 1st quarter of 2017 is of RON 486,494,412, higher with 3.36 percent than the value considered when preparing the Budget for 2017 (portion for Q1) and higher with 6.51 percent compared to the results from the same period of the last year.

The quantity of energy sold based on contracts, on the spot market (PZU – Day Ahead Market and PI – Intra-daily Market) and on the balancing market is of 2,789,218 MWh, with 0.77 percent over the sales program, of 2,767,838 MWh.

The total value of the investment program of Nuclearelectrica for 2017 is of RON 231,593 thousand (without the component for the payment of debt service). The highest value of the SNN investment program, of RON 196,759 thousand, for 2017, is destined to CNE Cernavoda Branch. The execution degree of the investment program of CNE Cernavoda Branch at the end of the first quarter of 2017 is 18.25 percent.

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