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4-Traders Homepage  >  Equities  >  BUCHAREST STOCK EXCHANGE  >  CNTEE Transelectrica SA    ROTEL   ROTSELACNOR9

CNTEE TRANSELECTRICA SA (ROTEL)
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CNTEE Transelectrica : Romania’s power grid operator Transelectrica reports loss in 2017

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04/02/2018 | 10:01am CEST

Romania’s power grid operator Transelectrica reported RON48mn (€10.3mn) losses for 2017, the company reported.

The losses were due to lower (regulated) fees and RON99mn additional payment liabilities calculated by the tax collection agency (ANAF) following the audit of the 2005-2010 financials. 

In February, the company estimated RON26mn net profit. Its market capitalisation was RON1.7bn (€370mn) at the end of Q1.

The company’s investment operations and its investment plans are not impaired by the additional liabilities set by ANAF.

The fees set by the market regulator ANRE were cut (by 18.9% for the system services and by 8.9% for transmission services) to correct excess profits achieved in previous years. In addition, the high electricity price hurt company’s profitability as well.

The company’s release blames previous management for not provisioning the liabilities. “The imprudent behaviour of the past with respect to managing this situation had consequently a great negative impact only in the 2017 financial results, determining total accounting loss of RON48mn, which is mainly coming from the audit of previous periods concluded in 2017,” the company’s management commented. 

However, the incumbent management was in office at the time when ANAF completed its audit in June 2017, as stated in the company’s release, while the CEO Corina Popescu was appointed in May 2017.

 

©2018 bne IntelliNews , source Magazine

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Financials ( RON)
Sales 2017 2 911 M
EBIT 2017 152 M
Net income 2017 -
Finance 2017 38,4 M
Yield 2017 5,43%
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 0,59x
EV / Sales 2018 0,64x
Capitalization 1 744 M
Chart CNTEE TRANSELECTRICA SA
Duration : Period :
CNTEE Transelectrica SA Technical Analysis Chart | ROTEL | ROTSELACNOR9 | 4-Traders
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 3
Average target price 23,4  RON
Spread / Average Target 0,19%
Managers
NameTitle
Georgeta-Corina Popescu Chief Executive Officer
Cristian-Eugen Radu Chairman-Supervisory Board
Marius Iulian Carabulea Member-Supervisory Board
Beatrice Ambro Member-Supervisory Board
Bogdan Bobora Member-Supervisory Board
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