Report date: 25.04.2017‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌

Name of the issuing entity: Societatea Nationala NUCLEARELECTRICA S.A.

Registered office: 65, Polona street, District 1, Bucharest‌‌

Phone/fax number: 021-203.82.00 / 021 - 316.94.00

Sole Registration Code with the Trade Register Office: 10874881

Order number: J40/7403/1998

Subscribed and paid share capital: RON 3.015.138.510‌

Regulated market on which the issued securities are traded: Bucharest Stock Exchange

To: Bucharest Stock Exchange Financial Supervisory Authority‌ Ref: Current report in compliance with the Law number 24/2017 and the Regulation of the Romanian National Securities Commission no. 1/2006 regarding the issuers and securities operations, as subsequently amended‌‌‌‌‌ Important event to be reported‌ The Annual Report for the financial year ended at 31 December 2016‌‌

Societatea Nationala Nuclearelectrica S.A. ("SNN") informs the shareholders and investors on the publication of the Annual Report for financial year ended at 31 December 2016, prepared in compliance with the provisions of art. 63 of Law no. 24/2017 and with Appendix 32 to the Regulation of the Romanian National Securities Commission no. 1/2006.‌‌‌‌‌

The Annual Report for the financial year 2016 comprises:‌‌‌‌

  1. The main events in the company's activity throughout the reporting period;

  2. The Individual Audited Financial Statements as at and for the year ended on 31 December 2016, prepared in accordance with OMFP 2844/2016 regarding the approval of the accounting regulations in compliance with the International Financial Reporting Standards ("IFRS - EU"), accompanied by the independent auditor's report;‌‌‌

  3. The Consolidated Audited Financial Statements as at and for the year ended on 31 December 2016, prepared in accordance with OMFP 2844/2016 regarding the approval of the accounting regulations in compliance with the International Financial Reporting Standards ("IFRS - EU"), accompanied by the independent auditor's report.‌‌‌

Main results‌

Indicator (Thousand LEI)‌

2016

2015

Variation

Quantity of energy sold (GWh)

10,457

10,824

-3.4%

Operating revenues

1,680,220

1,782,998

-5.8%

Operating expenses‌‌‌

(1,046,072)

(1,129,096)

-7.4%

EBITDA

634,148

653,902

-3.0%

Depreciation and amortization

(474,780)

(493,762)

-3.8%

EBIT

159,368

160,139

-0.5%

Net finance income/(costs)

(29,004)

18,185

-

Gross profit‌

130,364

178,324

-27%

Income tax expense

(17,915)

(29,180)

-39%

Net profit for the year

112,450

149,144

-25%

*) Excerpt from the Audited Individual Financial Statements for the financial year ended on 31 December 2016, amounts rounded in thousand lei.‌

Additional information may be obtained at e-mail:investor.relations@nuclearelectrica.ro.

Daniela Lulache CEO Societatea Nationala NUCLEARELECTRICA S.A.

65 Polona Street, District 1, 010494, Bucharest, Romania; Tel +4021 203 82 00, Fax +4021 316 94 00; Trade Registry number: J40/7403/1998, Sole registration code: 10874881,

Paid and subscribed capital: 3.015.138.510 lei office@nuclearelectrica.ro,www.nuclearelectrica.ro

S.N. NUCLEARELECTRICA S.A. ANNUAL REPORT

2016

COMPANY MANAGED IN ONE - TIER MANAGEMENT SYSTEM CONTENTS

  1. BASIS OF THE REPORT4

  2. IDENTIFICATION DATA4

  3. MESSAGE OF THE BOARD OF DIRECTORS5

  4. STATEMENT OF THE CEO7

  5. ACTIVITY ANALYSIS 9

  6. PRESENTATION OF THE COMPANY9

  7. MAIN ACTIVITY OF THE COMPANY9

  8. MISSION, VISION, VALUES, OBJECTIVES10

  9. DATE OF ESTABLISHEMENT12

  10. SHAREHOLDING STRUCTURE12

  11. SIGNIFICANT MERGERS OR REORGANIZATIONS12

  12. ACQUISITION AND TRADE OF ASSETS12

  13. ELEMENTS OF GENERAL ASSESMENT13

  14. PRODUCTION AND SALE ACTIVITY14

  15. PRODUCTION OF ELECTRIC AND THERMAL POWER14

  16. THE MAIN MARKETS FOR EACH PRODUCT AND THE DISTRIBUTION METHOD16

  17. THE EVOLUTION OF SALES ON THE INTERNAL AND/OR EXTERNAL MARKET AND LONG AND MEDIUM - TERM PERSPECTIVES20

  18. THE SITUATION ON THE COMPETITIVE MARKET, THE WEIGHT OF PRODUCTS ON THE MARKET AND MAIN COMPETITORS21

  19. DEPENDENCY ON A SINGLE CLIENT OR GROUP OF CLIENTS23

  20. THE TECHNICAL - MATERIAL SUPPLY ACTIVITY23

  21. HUMAN RESOURCES ACTIVITY27

  22. NUMBER, LEVEL OF TRAINING AND THE DEGREE OF UNIONIZATION OF THE LABOR FORCE28

  23. THE RELATIONS BETWEEN MANAGEMENT AND EMPLOYEES29

  24. THE ACTIVITY RELATED TO ENVIRONMENTAL PROTECTION30

  25. RADIOPROTECTION PROGRAM33

  26. RESEARCH AND DEVELOPMENT ACTIVITY36

  27. OPERATING AUTHORIZATIONS AND LICENSES36

  28. NUCLEAR SECURITY40

  29. INTEGRATED MANAGEMENT SYSTEM41

  30. CORPORATE SOCIAL RESPONSIBILITY43

  31. INTERNATIONAL RELATIONS45

  32. LEGAL ACTIVITY47

  33. ACTIVITY RELATED TO RISK MANAGEMENT49

  34. PERSPECTIVE ELEMENTS56

  35. FACTORS THAT MAY INFLUENCE LIQUIDITY57

  36. CURRENT AND ANTICIPATED CAPITAL COSTS57

  37. EVENTS, TRANSACTIONS AND ECONOMIC CHANGES AFFECTING THE INCOMES64

  38. NON - CURRENT ASSETS64

  39. LOCATION AND CHARACTERISTICS OF MAIN PRODUCTION CAPACITIES64

  40. THE DEPRECIATION DEGREE OF THE ASSETS65

  41. OPERATIONAL PERFORMANCE INDICATORS 65

  42. MARKET OF SECURITIES ISSUED BY THE COMPANY67

  43. THE ROMANIAN MARKETS AND THE MARKETS OF OTHER COUNTRIES WHERE THE SECURITIES ISSUED BY THE COMPANY ARE TRADED67

  44. DIVIDEND POLICY68

  45. ACTIVITY OF SNN AT BSE71

  46. PRESENCE IN THE INDEXES72

  47. COMMUNICATION WITH THE SHAREHOLDERS AND INVESTORS73

  48. FURTHER INFORMATION74

  49. INDIVIDUAL FINANCIAL STATEMENTS AS AT 31.12.201675

  50. CONSOLIDATED FINANCIAL STATEMENTS AS AT 31.12.201676

  51. CORPORATE GOVERNANCE DECLARATION77

  52. IMPLEMENTATION OF THE CORPORATE GOVERNANCE PRINCIPLES77

  53. THE GENERAL MEETING OF SHAREHOLDERS80

  54. THE MANAGEMENT OF THE COMPANY88

  55. THE BOARD OF DIRECTORS 88

  56. THE EXECUTIVE MANAGEMENT97

  57. CONSULTATIVE COMMITTEES101

  58. SHAREHOLDERS RIGHTS108

S.N. Nuclear Electrica SA published this content on 25 April 2017 and is solely responsible for the information contained herein.
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