September 23, 2014 4:26 AM ET

Electric Utilities

Company Overview of Societatea Nationala Nuclearelectrica S.A.

Company Overview

Societatea Nationala Nuclearelectrica SA generates electricity using nuclear power plants in Romania. The company operates two nuclear reactors in Cernavoda in the eastern part of Romania. It also generates thermal power; manufactures nuclear fuel; and provides human resources training and optimization services. The company is headquartered in Bucharest, Romania.

65 Polona Street

Sector 1

Bucharest,  010494

Romania

Phone:

40 21 203 8200

Fax:

40 21 316 9400

Key Executives for Societatea Nationala Nuclearelectrica S.A.

Societatea Nationala Nuclearelectrica S.A. does not have any Key Executives recorded.

Societatea Nationala Nuclearelectrica S.A. Key Developments

Nuclearelectrica Eyes Enel

Societatea Nationala Nuclearelectrica S.A. (BVB:SNN) is analysing opportunity arising from disposal of Enel SpA (BITENEL) operations in county. "Since 2013, SN Nuclearelectrica SA has expressed its intention to diversify its portfolio through strategic investments aiming at a sustainable growth of the company in the current competitive context of the energy market," the company said in a statement filed with the Bucharest Stock Exchange.

Nuclearelectrica Announces Earnings Results for the First-Half of 2014; Revises Earnings Guidance for the Year of 2014

Nuclearelectrica announced earnings results for the first-half of 2014. For the period, the net profit dropped 69% to RON 60.4 million, mainly due to a 20% annual drop in power prices on competitive markets and by the impact of a tax on special constructions introduced in 2014. The company also announced that it has raised it’s target for 2014 net profit by 254.8% to RON 99 million. The new estimation for total revenues is 4.9% higher than the previous one, while the expenditures projection is up by a mere 0.3%. The increase in projected revenues is based on higher sales, a rise in the transmission tariff for the electricity billed to customers as of July 1, 2014 and an increase in financial revenues mainly due to favorable foreign currency exchange rates.

Nuclearelectrica Reports Earnings Results for the First-Half of 2014

Nuclearelectrica reported earnings results for the first-half of 2014. First-half net profit dropped 69% to RON 60.4 million hurt by lower power prices and a newly introduced tax. The decrease in net profit was mainly caused by a 20% annual drop in power prices on competitive markets and by the impact of a tax on special constructions introduced this year, amounting to RON 44.7 million in the first half of 2014. First-half power sales fell 11% on the year in terms of value, to RON 783.1 million, and by 1.8% in terms of volume, to 5.2 terrawatt hours. Earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 43% on the year to RON 249.7 million in the first half of 2014. Earnings before interest and taxes (EBIT) dropped 88% to RON 27.2 million in the period under review.

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