In a notable development within the Romanian energy sector, Electrica, a prominent electricity distributor and supplier, reported its most robust financial performance in recent history for the year 2025. The company announced a net profit of approximately 245 million euros, reflecting a remarkable 159% increase from 2024’s profit of 94 million euros. Additionally, its EBITDA reached about 479 million euros, marking a significant 64.5% growth from the previous year’s figure of 291 million euros.
CEO Alexandru Chirita attributed these results to a structural transformation within the organization, emphasizing improvements in operational efficiency, prudent capital allocation, and enhancements in the supply business following regulatory changes. The Group successfully surpassed its commissioning targets, expanding its Regulated Asset Base to approximately 1.73 billion euros, which bolsters its long-term cash-flow visibility.
The growth in EBITDA was largely driven by strong performances in both the supply and distribution segments. The supply division experienced a significant turnaround, moving from a negative EBITDA of around 16 million euros in 2024 to a positive figure of 115 million euros in 2025. This shift was primarily fueled by an increase in revenues, which surged by approximately 427 million euros year-on-year, although this was somewhat offset by reduced income from subsidies.
Operating profit also saw substantial growth, rising to roughly 358 million euros, up from 171 million euros in the prior year. Revenues within the supply segment climbed to about 1.6 billion euros, reflecting a 36.5% increase. This growth was largely attributed to the removal of the electricity price cap effective from July 1, 2025, allowing Electrica to implement a market-based pricing strategy tailored for various customer segments. Furthermore, emergency legislation facilitated partial recognition of imbalance costs during April to June 2025, contributing positively to financial outcomes. The supply segment accounted for an impressive 72.2% of consolidated revenues and contributed 24% to EBITDA.
The decline in subsidy revenues was pronounced due to the shortened duration of the price cap scheme in 2025. Compensation under this mechanism amounted to around 217 million euros for six months, compared to approximately 427 million euros for the entire year of 2024. As of December 31, 2025, estimated receivables from state authorities stood at about 506 million euros.
The distribution segment also played a crucial role in enhancing overall financial results. Revenues increased by approximately 100 million euros (10.6%), reaching around 1.05 billion euros. This growth was driven by a regulatory-approved fee adjustment of 12.5% and a modest increase of 1.5% in electricity volumes distributed. Notably, distribution operations accounted for 27% of total Group revenues, while contributing nearly 79% of EBITDA, highlighting their central importance to profitability.
The combination of strong financial metrics, an expanding portfolio of renewable generation capacity, and ongoing storage projects positions Electrica favorably for future growth initiatives that align with Romania’s long-term energy security objectives.
