Transelectrica budgets 45m-euro profit

The national grid company Transelectrica, which is to be listed on the Stock Exchange in the following months, estimates a 30% growth in its net profit to some 45 million euros this year, according to company managers. “The 2006 projections indicate a reasonable growth, both in terms of profit and of turnover,” stated Razvan Purdila, manager of the division handling strategy, international cooperation and capital market of Transelectrica on Tuesday. Transelectrica”s turnover would reach almost 500 million euros according to him, while the EBITDA (Earnings Before Interests, Taxes, Depreciation and Amortisation) will stand at almost 100 million euros, in contrast to the 94 million posted last year. According to the issue prospectus, the company last year posted consolidated revenues worth 467 million euros from its main line of business, while the net consolidated profit stood at 35 million euros. The public offering for the company”s listing on the Stock Exchange was due to start yesterday, with shares worth 35 million euros, accounting for 10% of Transelectrica”s capital, to be put up for sale. ZF