Oltenia Energy Complex expects for this year a profit 67% higher, of RON 151.2mln

Oltenia Energy Complex estimates to achieve this year total incomes of RON 6.19bn (EUR 1.4bn), in slight decline compared to the level estimated for last year, and relies on a net profit of RON 151.2mln (EUR 35mln), by 67% higher. The company estimates for 2012 total revenues of RON 6.24bn and a net gain of RON 90.4mln. The coal and electricity producer estimates that this year expenses will stall at RON 6bn. Investments scheduled for 2013 amount to RON 1.58bn (EUR 365mln), up 37.3% compared with the level of RON 1.15bn included in the budget for 2012. Oltenia Energy Complex will register this year significant costs with the emission certificates, whose estimated value is RON 581.3mln (EUR 134.2mln), by 3.3 higher versus the amount of RON 175.9mln in 2012. The company is controlled by the Ministry of Economy and was established last year by the merger of energy complexes Craiova, Rovinari and Turceni and of the National Company of Lignite Oltenia. A 12% stake in the company would be listed on the stock exchange this year, by an IPO.