Electrica: higher turnover, lower profits

The consolidated turnover of Electrica reached 61,791bn ROL (about 1.5bn euros) in the first nine months, 14% higher in euros compared with the same time last year. At the same time, the gross profit went down to 774.4bn ROL (19 million euros), compared with the over 814bn ROL (22.1 million euros) in 2003. It has debts to recover worth 22,346bn ROL (548 million euros) and owes 28,389bn ROL (697 million euros). The share capital rose by more than 900bn ROL in the first eight months of the year, on the account of some land for which the company acquired the property deeds. This capital therefore stands at 27,981bn ROL (687 million euros). Electrica supplies electrical power to about 8 million clients through eight branches established as legal entities. Two of the distribution companies held, Electrica Banat and Electrica Dobrogea will be acquired by Italian Enel Group, while the takeover of Electrica Oltenia and Electrica Moldova is negotiated with CEZ (Czech Republic) and E.ON (Germany). ZF