Bucharest Exchange-listed Premier Energy reports 25% y/y stronger revenues in Jan-Sep
<p>Bucharest Exchange-listed Premier Energy Group, active in the renewable electricity generation and energy supply activities in Romania and Moldova, announced its revenues rose by 25% y/y to EUR 816 million in January-September and by 61% y/y to EUR 303 million in Q3 alone, driven by both organic performance and strategic acquisitions.&nbsp;The net profit, however, shrunk by 58% y/y to EUR 26.5 million.</p>

<p>The normalised EBITDA saw an 8% increase to EUR 72.3 million after a strong Q3 in which it surged by &nbsp;22% y/y to EUR 19.1 million.</p>

<p>The company's shares edged up 0.1% after the Q3 financials were released, putting the company's market capitalization at RON 2.5 billion (EUR 500 million).</p>

<p>In July 2024, Premier Energy added 80 MW of wind capacity to its portfolio and commissioned another 5 MW of solar capacity in Q3. Previously, the Group had over 1,000 MW of renewable electricity generation capacity under ownership, management, or development in Romania and Moldova.</p>

<p>The revenues generated by the renewable energy segment increased by 6% y/y, reaching EUR 145.6 million in January-September.</p>

<p>"Despite facing challenges such as high balancing costs, lower electricity prices, and reduced wind conditions in 2024, our diversified and vertically integrated operations demonstrated strong results, particularly in the natural gas segment," commented <strong>Jose Garza</strong>, CEO of Premier Energy Group.</p>

<p>In terms of operational highlights, the owned renewable energy sources (RES) production registered a 38% y/y increase to 127GWh in the first nine months of 2024, driven by acquisitions and commissioning of new developments.</p>

<p>The Group recorded a 66% y/y increase in the volume of electricity supplied to 4.95TWh and a 34% y/y growth in the volume of natural gas supplied (5.44TWh), reflecting on the expansion of its energy supply capabilities.&nbsp;</p>

<p>The number of customers served by the natural gas distribution network grew by 5%, further consolidating the Group's market position.&nbsp;</p>

<p>In the Republic of Moldova, operations performed as expected on a normalised basis, with supply volumes up 8% y/y and a 1% increase in customer numbers.</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: the company)</em></p>