In the first half of 2024, Electrica, the electricity distributor and supplier, reported a net profit of 20.4 million euros, a decline of 8 million euros from the 28.4 million euros recorded in the same period last year, representing a 28.3% decrease.
Despite this drop in net profit, Electrica’s CEO, Alexandru-Aurelian Chirita, noted a 6% increase in EBITDA, which reached 123 million euros. This growth is attributed to successful operational strategies, particularly in the distribution segment, where revenues rose by 15% to 448 million euros. This increase was driven by a 5.8% rise in regulated tariffs as of January 2024 and a 4.9% increase in the volume of electricity distributed. The distribution segment contributed 29.6% to the Group’s consolidated revenues.
However, the supply segment faced challenges, with revenues declining by 20.5% to 588 million euros. This decrease was mainly due to lower electricity sales volumes and a 49% drop in the cost of purchasing electricity. The volume of electricity supplied to retail customers fell by 3.1% to 3.8 TWh.
Electrica remains focused on modernizing its distribution infrastructure and implementing measures for stabilizing results and achieving sustainable long-term growth.
