Electrica Group's preliminary net profit was RON 1,218.9 million in 2025, 159.2% higher than the restated profit recorded in 2024 - RON 470.2 million (an increase of RON 748.6 million), and EBITDA (earnings before interest, taxes, depreciation, amortization and depreciation) was RON 2,383.3 million in 2025, 64.5% higher than the restated EBITDA in 2024 (an increase of RON 934.4 million). Operating revenues amounted to RON12,165.3 mln, up by 12.9% compared to RON10,772.8 mln in 2024, the company announced.
At the same time, the degree of realization of investments increased to 110%, i.e., 878.4 million RON, compared to 797.8 million RON planned without additional works, up by 8.4% or 68.2 million RON compared to 810.2 million RON, investments made in 2024.
What drove EBITDA and profit growth
The increase in EBITDA mainly stems from the change in the supply and distribution segments, both of which are positive in 2025 compared to 2024.
Of the two segments, the variation of the supply segment had the higher share, recording an improvement in EBITDA of + RON +650.5 million, reaching RON 572.4 million from RON -78.1 million (negative) in the previous period. The increase is due to the segment's improved operational performance, with an increase in revenues of RON 2,125.8 million, which was reduced by the change in other revenues by RON 1,031.4 million (decrease), mainly due to subsidies.
Operating profit for 2025 showed an increase of RON 929.8 million to RON 1,782.5 million, compared to RON 852.7 million realized in 2024.
The net profit for 2025 increased by RON 748.6 million to RON 1,218.9 million from a profit of RON 470.2 million in the previous year.
Alexandru Chiriță, CEO of Electrica, says that the preliminary results for 2025 show a structural change in the Electrica Group's performance. We recorded a net profit of RON 1.22 billion and an EBITDA of RON 2.38 billion, the best results in the company's recent history, underpinned by operational efficiency and rigorous capital management.
”We consolidated the supply segment in a competitive environment, capitalized on the market adjustments generated by the removal of the cap and maintained the pace of investments above the planned level. Exceeding the commissioning schedule and increasing the regulated asset base to RON 8.6 billion strengthen our financial profile and the predictability of future flows,” says Chiriță.
”The increase in operational performance, the development of renewable generation capacities and the advancement of storage projects position us at a new stage. The Electrica Group is entering a cycle of sustainable growth, based on efficiency, stability and investments that support Romania's energy security.”
Supply, higher by 36%
In the supply segment, revenues increased significantly in 2025 by approximately RON 2,125.8 million, or 36.5%, compared to last year, reaching RON 7,944.6 million. The increase in revenues from the supply of electricity and natural gas was mainly due to the waiver of the cap on electricity from July 1, 2025 and partly due to the entry into force of GEO No. 6/2025 (which allowed the recognition in the purchase cost of up to 10% of the countervalue of imbalances during the period April-June 2025).
The abolition of the capping scheme has allowed the supply subsidiary to build its pricing strategy on competitive market and profitability criteria, tailoring it to customer categories. The supply segment's contribution to the Group's consolidated revenues is 72.2% and its contribution to Group EBITDA is 24.0%.
The subsidy income for the year 2025 (6 months of cap in force) amounted to RON 1,081.8 million compared to RON 2,127.6 million recorded in 2024 (12 months of cap in force). As of December 31, 2025, the estimated subsidies receivable from the authorities totaled RON 2,518.3 million (Ministry of Energy/ANPIS: RON 2,495.7 million; AJPIS: RON 22.5 million). Of the amount of subsidies receivable (MoE/ANPIS), RON 2,442.8 million represents claims already submitted and not yet received, while RON 53.0 million were claims not yet registered.
On the distribution segment, revenues increased by approximately RON 500.1 million, or 10.6%, to RON 5,209.7 million (of which RON 2,261.5 million revenues with external customers of the Group), compared to 2024, as a result of both the increase in the distribution tariff by 12.5% as per ANRE Order no. 97/2024, and the increase in the volume of energy distributed by 1.5%, compared to 2024. The contribution of the electricity distribution segment to the Group's consolidated revenues is 27.0% and the contribution to the Group's EBITDA is 78.8%.
Restatement of the 2024 and 2023 financial statements
The consolidated financial statements for the years 2024 and 2023 have been restated in 2025 to reflect the revaluation of trade receivables and subsidies as a result of the retroactive regulation, through GEO 32/2024, of the compensation and price cap scheme for electricity and natural gas. Accordingly, the figures for 2024 and 2023 presented in the preliminary consolidated statements and in this summary are as restated. Further details will be presented in the notes to the audited annual financial statements.
Electrica in figures
▪ The volume of electricity distributed - 18.03 TWh, up by 1.51 TWh compared to 2024. The subsidiary Distribuție Energie Electrică Romania (DEER) serves about 4.011 million users in 18 counties, in an area covering about 40.8% of Romania's surface area;
▪ The Regulated Assets Base (RAB) for 2025, in nominal terms, is estimated at the end of 2025 at 8.6 bn. RON;
▪ In 2025, DEER carried out and commissioned investments amounting to RON 878.4 million, of which: RON 844 million represent works from the 2025 investment plan (including additional works), i.e. a degree of achievement of 115% of the planned commissioning program, and RON 34.4 million represent investment works carried over from 2024;
▪ The volume of electricity supplied on the retail market - 7.3 TWh, slightly decreasing by 5.01 TWh compared to 2024; Electrica Furnizare supplies electricity to approximately 3.3 million consumption sites (the most of all suppliers in Romania), of which 1.7 million consumption sites on the competitive market, as well as 1.53 million consumption sites under the universal service regime and as supplier of last resort;
▪ Market share on electricity supply - Electrica Furnizare is the second largest electricity supplier in Romania (based on volumes supplied), with a total market share in 2025 of 14,73% and 10,78% in competitive regime, according to the latest available ANRE reports (November 2025). On the competitive market, it ranks third among suppliers;
▪ Volume of electricity produced - 16.69 GWh up by 65.8% compared to the previous year. The increase reflects Vulturu and Satu Mare 2 PV parks coming into operation from July 2025 and October 2025 respectively;
▪ In the generation segment, the total capacity of the Electrica Group's projects, whether operational or in various stages of development, is 307.5 MWh in renewable energy generation projects (photovoltaic and wind) of which 46.5 MWh are currently operational. Electrica also has approximately 1169.5 MWh in various stages of development in 19 energy storage projects.