The Nuclearelectrica National Corporation (BVB symbol SNN) has reported a net profit of RON 843.135 million in the first half of 2024, down 34.6% year-on-year according to a report submitted on Wednesday to the Bucharest Stock Exchange (BVB).Operating profit (EBITDA) decreased by 27.8% compared to the same period last year, significantly influenced by a 43.2% decrease in sold electricity prices, for a similar amount of electricity sold.Operating income decreased by 44%, mainly due to the 45.5% decrease in income from the sale of electricity, determined by the same decrease in the weighted average price of the electricity sold during 1 January - 30 June 2024, compared to the weighted average price from the same period of 2023, considering the sale of a similar total amount of electricity.The amount of electricity sold by SNN in the first 6 months of 2024 on the competitive market decreased by 31.7%, accounting for 40.37% of the total sold quantity, and the average sale price on this market decreased by 62.2% (price without Tg).The cost of the contribution to the Energy Transition Fund for the period 1 January - 30 June 2024 is of RON 6,493 thousand (1 January - 30 June 2023: RON 1,461,691 thousand), as a result of the decrease in sales prices below the regulated level for which the contribution is calculated and due.Operating expenses, less depreciation and impairment and CFTE, increased by 35.3% during the period 01 January - 30 June 2024 compared to the same period of 2023. This increase is driven mainly by the increase in positive imbalance (surplus) expenses at negative prices in the balancing market, driven by the new invoicing mode introduced by CIGA.The financial result positively influenced the net result, but in the period 01 January - 30 June 2024, net financial income was recorded, decreasing by 23.3% compared to the similar period of the previous year, as a result of the 33% decrease in the interest income obtained. The main currencies with exposures are EUR and CAD.Corporate income tax expense decreased by 29.5% as a result of the decrease in the taxable profit calculated for the period 01 January - 30 June 2024 compared to that calculated for the similar period of the previous year, also influenced by the impact of deferred income tax expenses and income recognized during the reporting period.Nuclearelectrica is a national electricity, heat and nuclear fuel corporation in Romania operating under the authority of the Ministry of Energy, with the Romanian government holding 82.49% of the shares, and the other shareholders 17.50%, after the company's listing on the stock exchange in 2013.The company contributes over 18% of nuclear energy to the total energy production and 33% to the total CO2-free energy production in Romania.The Cernavoda National Power Plant (CNE) branch operates two CANDU nuclear units, two of the most efficient units among the more than 400 nuclear power plants in the world.
In the context in which agri-food systems are responsible for almost one third of global greenhouse gas emissions, Auchan Romania assumes an active role in the transition of its supply chain toward a more sustainable model. At the second edition of the Climate Supplier Event, organized under the aegis of the Climate Change Summit, the […]
Janiva Magness, the winner of seven Blues Music Awards following 26 nominations, and nominated for a Grammy for a career spanning 17 albums, is set to perform at the 14th edition of the Brașov Jazz & Blues Festival, which will take place between August 14–16, 2026. Magness is one of the most valuable and influential […]
Auction house Artmark announced a major auction for this winter featuring an engraving created by Francisco Goya, the most important Spanish artist of the late 18th and early 19th centuries. Romania's late communist leader Nicolae Ceaușescu received this gift from King Juan Carlos I as a gesture of diplomacy. The engraving entitled “The Engagement – Capricho […]
Authorities managing Romania's Bicaz Gorges–Hășmaș National Park has built a fish ladder system on the Bicaz River, which will allow protected species to migrate and reproduce. There are several bridges and small bridge structures in the Bicaz River that have a “bottom sill,” meaning small waterfalls. Fish that do not jump like the trout cannot […]
The far-right opposition parties in the Romanian Parliament are set to file a motion of no confidence against the government headed by prime minister Ilie Bolojan. The motion, authored by senator Ninel Peia of the Peace – Romania First group, is specifically aimed at the reformist party Save Romania Union (USR), and is entitled “Romania […]
Romania's iconic rock singer Adrian Pleșca, known as “Artan,” died on Tuesday, December 2, after a fatal stroke, at the age of 64. The artist founded the well-known band “Timpuri Noi” in 1982 and “Partizan” in 2001, and was popular on the Romanian rock scene. Over the years, he left and returned to the two bands. Several […]
