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Transelectrica waits for a drop by two thirds of the profit this year, at 138.7 million lei
Transelectrica estimates a net profit of 138.7 million lei (32 million euro) this year, dropping by 62.5% from the record result of 370 million lei obtained in 2014, due to the reduction of some categories of income and the increase of expenditure, according to the budget of the company, approved on Monday.
For the next year, the energy transporter estimates a net profit of 67 million lei, with the result of increasing slightly in 2017 at 71.91 million lei.
The gross profit is estimated to drop this year by 61.7%,from 446 million lei in 2014 to 170.74 million lei (39.4 million lei).
The state owns, through the ministry of economy 58.68 % of the Transelectrica shares.
The company estimates that they will obtain total income of 2.67 billion lei (616.6 million euro) dropping by 7% from an income estimated of 2.87 billion lei for 2014, while the expenditure is estimated to go up by 3% from 2.43 billion lei to 2.5 billion lei (564 million euro).
As for income, the company expects a drop by 6.7% of the sums obtained out of exploitation activities at 2.63 billion lei (593 million euro) in the context where the income out of services on the electricity market (including the transport) are estimated to drop by 6.6% at 2.58 billion lei (582 million euro) from 2.76 billion lei last year.The income from electricity transport would drop slightly, at 1.28 billion lei (288 million euro) from 1.3 billion lei in 2014.
The financing income is estimated at 43.3 million lei (9.76 million euro) dropping by 24.2% from 57.15 million lei for the end of last year.
As for expenditure, the costs of exploitation are estimated to go up by 3.2% from 2.36 billion lei in 2014 to 2.44 billion lei (550 million euro) this year, mainly due to the advance of 4.4% of the expenditure with goods and services, estimated at 1.8 5 billion lei against 1.77 billion lei last year.
The financial expenditure would drop by 3.8% from 65.6 million lei at 63.1 million lei (14.2 million euro).
Transelectrica proposed to allocate 282.6 million lei (63.75 million euro) for investment, going up by almost 90% as compared to 2014 when the investments had 149.4 million lei. Initially, the company estimated investment of 545 million lei for last year.
The largest part of the investments of this year (150.3 million lei) has as destination the continuation of some projects started in the previous years, while new investment will be 79.6 million lei, up from 5.8 million lei last year.
The main projects refer to retechnologisation of the electrical units which exist, as well as the increase of the capacity of interconnection with the neighbouring countries, including those outside the EU ( Moldova, Serbia, Turkey).
The level of total investments estimated to go up to 375.86 million lei in 2016 and to 408.85 million lei in 2017 for new projects being allocated 219.7 million lei, respectively 306.4 million lei.