Transelectrica Announces Earnings Results for the First Quarter of 2016 and Full Year of 2015
Transelectrica announced earnings results for the first quarter of 2016. For the quarter, net profit fell 21.6% on the year to RON 99 million against RON 126 million a year ago. Revenues came under downward pressure due to tariff cuts as of mid-year 2015, when tariffs were curtailed to offset the excess income earned in the previous tariff year due to higher-than - expected volumes. Gross profit was RON 118 million against RON 150 million a year ago. EBIT was RON 129 million against RON 167 million a year ago. Total revenue was RON 755 million against RON 779 million a year ago.
In 2015 the company posted a net profit of RON 366 million, up 2.5% from a year earlier.