Electrica: 1.8bn-euro turnover in 2007

Electrica, the largest energy distributor and supplier on the Romanian market, posted a 6 billion-RON (1.79 billion-euro) turnover at the end of last year, according to the company’s preliminary results. The results are 8% higher than in 2006, but below the estimates that pointed to a 6.4 billion-RON (1.9 billion-euro) turnover last year. The improved results are due to an increased demand for electricity, particularly during last summer’s high temperatures, which resulted in the higher consumption of electricity as well as higher electricity bills. The company’s estimates for last year’s gross profit stand at 0.1 billion RON (30 million euros). “In 2008, all the simulations we have run so far indicate a potential turnover increase to 10%, if the gross profit remains steady,” said company representatives.