National Power Grid Company Transelectrica has obtained in the first quarter of 2020 a net profit of 77 million RON, representing almost 88 percent of the budgeted profit for the entire year. Compared to the same period last year, the net profit increased by 103 percent. The result was obtained as a result of the prudential management decisions consisting in the overall reduction of all items of expenditure.
“Through the management decisions and measures ordered during this period, we ensured the continuity of the activity in conditions of safety and performance, as well as the continuity of the company’s investment objectives,” said Catalin Nitu, General Executive Director of CNTEE Transelectrica SA. “We efficiently managed the unprecedented situation generated by the COVID-19 crisis, through good organization and rapid reaction. Our efforts in the first quarter were validated by obtaining a Ba1 rating with a positive outlook from the Moody’s Rating Agency and by improving the Company’s rating at the individual level from Ba2 to Ba1.