Energy Holding reaches 235m euros

Energy Holding, involved in trade and electrical power production, estimates a 36% growth in this year’s turnover, against the 235.55 million euros (848 million RON) reported last year. “We estimate a growth in turnover similar to that seen in the 2004-2005 period,” stated sources from the company. This growth is for the most part due to our contract with Petrom,” quoted sources added. Energy Holding won the tender to supply electrical power to 1,000 oil derricks of Petrom, the biggest Romanian company, which is now part of the portfolio of the Austrian petroleum group OMV. Under the contract, 2 TWh are to be supplied by the spring of 2008, equivalent to some 2% of Romania’s annual consumption. The value of the contract is estimated by sources from the market at some 100 – 150 million euros. Last year, the company reported a net profit worth 10.2 million euros (36.8 million RON), over a three-fold increase in euros against 2004. “For this year, we want to maintain the same level of profit witnessed last year,” quoted sources also specified.