Electrica Transilvania Sud sees turnover up 10%

Electrica Transilvania Sud posted a turnover worth 1.14 billion RON (315 million euros) last year, a 10% increase against turnover posted in 2004, of 1.03 billion RON (254 million euros). The Brasov-based distributor and supplier of electrical power posted a gross profit worth 97.3 billion RON (26.9 million euros), after losses worth 6.2 million RON (1.5 million euros) in 2004. Electrica Transilvania Sud supplies electrical power to about one million customers in Alba, Brasov, Covasna, Harghita, Mures and Sibiu counties. The company is, along with Electrica Muntenia Nord and Electrica Transilvania Nord, one of the three branches of Electrica SA that have not yet been privatised. The Ministry of Economy and Trade has recently announced that the privatisation strategy for these companies could be approved this autumn. The other five branches of Electrica – Electrica Dobrogea, Electrica Banat, Electrica Oltenia, Electrica Moldova and Electrica Muntenia Sud – have already been sold to foreign investors. The most recent privatisation involved Electrica Muntenia Sud, the biggest branch of Electrica, and was won at the beginning of June by Enel. The transaction entails an investment worth 820 million euros from the Italian group, to acquire a stake and later to increase it to 67.5%.