State-Owned Energy Companies Post Record-High Results

02.27.2012 By Roxana Petrescu

The largest 15 companies controlled by the Economy Ministry posted 23 billion lei (EUR5.3 billion) in revenue last year, up 15% on 2010. The highest increases were those of the energy complexes in Oltenia (southern Romania), because the thermoelectric power producers posted record high results helped by the drought that hurt the hydropower business. At the same time, Romgaz remains the most profitable state-run company, leaving even Romania’s largest company, Petrom (SNP.RO) behind in terms of profit margin. All these companies are to be privatized either via the stock market or in strategic sales.

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Keywords:
ENERGY
, ECONOMY MINISTRY
, RESULTS
, ROMGAZ
, OLTENIA
, HIDROELECTRICA
, TERMOELECTRICA