“Electricity consumption picked up slightly since the end of September, and is still rising in Q4, due to the bad and cold weather,” officials said. The company’s net profit amounted to RON 11.458 million (€2.71 mln) in the first nine months of this year, 11.6 times lower than the RON 132.915 mln (€36.52 mln) registered in the first three quarters of 2008, according to data sent yesterday to the Bucharest Stock Exchange.
The company’s net sales amounted to RON 1.792 billion (€423.9 mln), down 10.8 percent year-on-year from RON 2.01 bln (€552.47 mln). Transelectrica cut expenses by four percent, to RON 1.814 bln (€429.18 mln) at the end of the first nine months.
The electricity transporter is currently trying to obtain new financing from banks, for investments worth some RON 40 mln (€9.3 mln).
