Nuclearelectrica H1 net profit worth almost 1.2 billion lei, up 36.6pct

Nuclearelectrica National Company (SNN) posted a net profit of 1.184 billion lei in the first half of this year, up 36.6% from the same period last year, according to its half-year report submitted to the Bucharest Stock Exchange (BVB) on Friday.In the first six months of 2025, the company reported a net profit of 866.66 million lei.According to data released on Friday, operating revenue increased by 2% in the first half of the year to 2.798 billion lei, while revenue from electricity sales rose 2.7% to 2.701 billion lei.Operating profit (EBITDA) increased by 33.7% to 1.564 billion lei, while operating result (EBIT) rose 40.2% to 1.143 billion lei.The increase in EBITDA was mainly supported by the 2.7% rise in revenue from electricity sales and the removal of the contribution to the Energy Transition Fund (CFTE), following the expiry of Emergency Ordinance No. 6/2025 after 30 June 2025. These factors were partly offset by a roughly 15.3% increase in operating expenses, excluding depreciation and impairment.Operating revenue increased by 2%, mainly as a result of the 2.7% increase in electricity sales revenue, driven by a 12.7% rise in the weighted average price of electricity sold, while the total quantity of electricity sold fell by 11.7%.Operating expenses, excluding depreciation, amortisation and the contribution to the Energy Transition Fund, increased by 15.3% to 1.234 billion lei. The increase was mainly driven by a roughly 61% rise in electricity procurement costs, an approximately 20% increase in repair and maintenance expenses and an 18% rise in other operating expenses.Net financial income increased by 23% to 271.63 million lei, while net income tax expense rose by 36.2% to 230.93 million lei.In terms of production, the electricity generated and delivered by Cernavoda NPP to the National Energy System totalled 4.154 million MWh in the first half of 2026, down 11.74% from 4.706 million MWh in the same period last year. In the second quarter, electricity delivered to the National Energy System fell by 23.4% to 1.520 million MWh.Nuclearelectrica's investment programme for 2026 is worth 3.42 billion lei and, as of 30 June, investments amounted to 1.360 billion lei, representing an implementation rate of 39.76%.The net electricity production programme approved by the Nuclearelectrica Board of Directors for the first half of 2026, as revised in February 2026, targets 4.45 million MWh and was 93.4% completed."The lower capacity utilisation factor at Unit 1 of Cernavoda NPP reflects the restriction imposed by CANDU Energy INC limiting the power output of Unit 1 to 90%, as well as unit shutdowns. The planned outage of Unit 1 lasted 1,237 hours, beginning on 10 May at 10:50. Unit 2 experienced an unplanned outage beginning on 4 May at 19:53, lasting 624 hours," the report reads.