Complexul Energetic Oltenia estimates a profit down over 50%

Complexul Energetic Oltenia estimates for this year a turnover of over RON 4.1bn and a net profit exceeding RON 100mln. The low value of the net profit estimated for this year is the result of expenses with the acquisition of emission certificates, for which about EUR 136mln will have to be allocated. The company forecasts for this year a production of approximately 18.5TWh, of which 26% is allocated to the regulated market and the remaining energy will be traded on the free market. The company was established on May 31^st 2012, by merging Complexul Energetic Rovinari SA, Complexul Energetic Turceni SA, Complexul Energetic Craiova SA and Societatea Nationala a Lignitului Oltenia SA (the National Company of Lignite Oltenia SA – Ed.). After the seven months of operation last year, the company posted a turnover of RON 2.255bn and net profits of RON 242mln. Electricity produced by Complexul Oltenia in 2012 was 10,073GWh, and that supplied – 9,174GWh. The profit recorded allowed the company to acquire in 2012 over 4mln emission certificates, transactions being conducted transparently on the Romanian Commodities Exchange.