Electrica, a major domestic company specialising in electricitysupply and distribution, anticipates a slight turnover increase in2010, but expects its gross profit to be three times lower at theend of the year compared with the end of 2009.
"The gross figure expected in 2010 for the Electrica grouprevolves around 0.1bn RON (23.8m euros), while turnover stands atabout 5bn RON (1.2bn euros)," say the representatives of thestate-owned company.
According to Electrica's latest estimates, in 2009 the companyreached turnover worth 4.8bn RON (1.14bn euros) and posted netincome worth 0.3bn RON (71.4m euros).
Last year energy consumption fell by 8.3% on the entire market,according to Transelectrica data, with most electricity suppliersexperiencing supply drops particularly on the segment of industrialconsumers.
Estimates for this year indicate a slight pick-up in electricityconsumption against last year, by as much as 3%, so thatconsumption will not reach the 2008 level this year, either.
According to Electrica data, in the first nine months of lastyear the company had sold 11% less energy than in the same periodof 2008. Sales growth in 2010 would come from the expansion of thecompany's client portfolio.
The company says it has earmarked an investment budget worth470m RON (111.9m euros), with the money to target the modernisationof distribution networks, leading to fewer supply disruptions forconsumers. Against 2009, this year's budget is around 30%lower.
"For the time being, Electrica does not plan to resort to loansto finance its operations," the company officials said.
Electrica has repeatedly announced its intention to enter theenergy generation market, being interested in developing severalprojects based on renewable sources. Thus, according to the latestinformation available, the company plans to develop around 375 MW,with projects including the construction of three wind farms of 50MW each.
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