Some market analysts do not believe in the forecasts of themanagement of Transelectrica electricity transmission companyindicating rising income for this year and say the firm will slipinto the red in 2010. This happens as the transmission company hasgenerated profit at least in the past eight years.
"I believe Transelectrica's 2010 income will be a negative oneas I cannot see how it could improve its operating figure too muchuntil yearend and the financial income will definitely be negative.This will be the weakest operational year for Transelectrica sincethe company was listed. For 2011 and 2012, instead, there are verymany solid arguments for Transelectrica to get a very good tarifffrom ANRE. Under the circumstances, investment in this stock isjustified toward the yearend. Transelectrica may be one of thestocks of year 2011," believes Mihai Caruntu, head of the capitalmarket research department of BCR.
According to him, the lower operating figure will come amid thesignificantly lower revenues from the allotment of interconnectioncapacities amid the restrictions the EU introduced this year.
Transelectrica has recently reviewed its 2010 budget, projectinga 13m RON net gain at yearend from the previous estimate of 4.4mRON.
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