Electromagnetica sees turnover up eight times after becoming energy supplier

Electromagnetica Bucuresti (ELMA) has managed to boost its turnover eight times in the past six years, to a level of 400m RON (94m euros) in 2009, on the basis of energy generation and particularly supply operations. Though it continues to describe itself as a producer of electrical and telecom equipment, around 70-80% of the company’s turnover is coming from the energy field. Electromagnetica took to electricity trading in 2004-2005, when, amid the lack of orders, the management decided to shift focus to other fields. The company last year supplied around 2,000 MW of electricity, accounting for 4-5% in the total volume of the market, according to the company’s management. At present, Electromagnetica supplies electrical power to around 150 clients. There currently are more than 200 players on the market holding licences in the field of energy supply, but few of them also generate electricity, like Electromagnetica does, with its output, however, being very small against supplied power.