Q3 2024 Societatea Energetica Electrica SA Earnings Call Transcript
Key Points
- Societatea Energetica Electrica SA (BSE:EL) achieved an EBITDA of RON1.06 billion, aligning with their annual projection.
- The company reported an exceptional performance in the distribution segment with an 8.1% increase in revenues due to higher volume and tariffs.
- Significant progress was made in renewable energy projects, including the Vulturu photovoltaic park and the Satu Mare 2 project.
- The company secured 20% more of the share capital in the Crucea Wind Park project, increasing their ownership to 60%.
- Societatea Energetica Electrica SA (BSE:EL) is in a strong liquidity position with RON641 million in cash and RON938 million in available lines.
- The supply segment recorded a 15.2% decrease in revenues due to lower subsidy revenues and supplied volumes.
- There was a negative impact of RON211 million in operating expenses, partly due to increased penalties and provisions for risks.
- The net result showed a slight decrease compared to the previous year, with a negative variation of RON125 million in EBITDA.
- The company faced challenges with higher acquisition prices due to increased sourcing costs and imbalances in the energy market.
- Outstanding receivables increased due to delays in invoicing and technical issues related to system migration.
Ladies and gentlemen, thank you for standing by. The Electrica teleconference is starting now. Thank you.
Hello. I'm Raluca Kasap, Head of Investor Relations. And together with the entire Electrica management team, I'd like to thank you for joining our call today to present the third-quarter financial results. Those of you who are connected only by phone, please download the presentation in PDF format available on our website on the Results and Presentations section of the Investors section. (Operator Instructions) Kindly note that the entire conference is being recorded. (Operator Instructions) The recorded presentation will be available on our website starting latest tomorrow and the transcript as well as soon as possible. We kindly ask you to see the disclaimers on slide 3 of the presentation.
Now, we'll begin the presentation of the financial results which will be followed by questions-and-answers session. Should you have any questions during the presentation, you may send them
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