Transelectrica, 26% lower income in Q2

Grid company Transelectrica Bucuresti (TEL) has registered a net income worth 12.15m RON (3.77m euros) for the second quarter of the year, down 26% against the same period last year. The company’s Q2 turnover reached 596.9m RON (185m euros), 6.2% higher against last year. In H1, net income stood at 54.58m RON (16.54m euros), half the figure in the first six months of 2006, while turnover fell by 7.3% to 1.042bn RON (315m euros). H1 revenues dropped amid an approximately 4.6% lower level in consumption against the first six months of 2006 due to the milder winter. Transelectrica has budgeted a net income worth 59.3m RON (17.45m euros) for this year, over 4 times lower than last year. The company forecasts overall revenues of 2.52bn RON (740m euros). Last year, Transelectrica generated a net income worth 277.2m RON (78.7m euros), 3.3 times higher than in 2005 as operating revenues increased by 44% to 2.48bn RON (703m euros).