In the last quarter of last year, Electromagnetica recorded a net profit of 1.739 million RON, 2.6 times lower than in the same period last year, the net result for the whole year being 25.231 million RON, according to the data submitted to the Stock Exchange, Agerpres informs.

According to the company’s representatives, the decrease in the fourth quarter was mainly caused by the introduction of the new energy contribution starting September 1, 2022.

The turnover of the company decreased in 2022 by 32% compared to the previous year, to 231.502 million RON, primarily as a result of the reduction in the electricity supply activity.

„In the last quarter of the year, the decrease in the income of the energy supply activity by 23.8% compared to the same period of the previous year, combined with the increase in unlicensed activities (by 9.5%), led to a 9.6% reduction of total revenues compared to the same period last year,” the company’s report states.

On December 31, 2022, Electromagnetica had assets of 448.506 million RON and liabilities of 63.946 million RON.

Electromagnetica is a joint-stock company founded in 1930 and carries out its activity in several fields, the most important being: activities in the field of energy efficiency (production of fixtures, LED lighting systems and solutions, electrical energy distribution and measurement equipment, telemanagement systems, electric car charging stations); renting office spaces, industrial spaces, land and providing utilities; the production of electricity from renewable sources (produced in low power hydroelectric plants) and the supply of electricity.

Electromagnetica shares are traded at the Bucharest Stock Exchange.

Agerpres