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SOCIETATEA ENERGETICA ELECTRICA S.A.

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Societatea Energetica Electrica S A : Current report – Litigation Settlement ANRE – 18 December 2020

12/18/2020 | 11:21am EDT

Societatea Energetica Electrica S.A.

9, Grigore Alexandrescu str.

010621 District 1, Bucharest, Romania Phone: 021-208 59 99; Fax: 021-208 59 98 Fiscal Registration Certificate RO 13267221 J40/7425/2000

Share capital: 3.464.435.970 LEI www.electrica.ro

To:

Bucharest Stock Exchange (BSE)

London Stock Exchange (LSE)

Romanian Financial Supervisory Authority (FSA)

Current report in compliance with the Law 24/2017 on issuers of financial instruments and market operations, the Romanian Capital Market Law no. 297/2004, FSA Regulation no. 5/2018, and the Bucharest Stock Exchange Code

Report date: 18 December 2020

Company name: Societatea Energetica Electrica S.A. (Electrica)

Headquarters: 9 Grigore Alexandrescu Street, 1st District, Bucharest, Romania

Phone/fax no.: 004-021-2085999/004-021-2085998

Fiscal Code: RO 13267221

Trade Register registration number: J40/7425/2000

Subscribed and paid in share capital: RON 3,464,435,970

Regulated market where the issued securities are traded: Bucharest Stock Exchange (BSE) and London Stock

Exchange (LSE)

Significant events to be reported:

Waiver of trial case no. 8019/2/2017 against ANRE

Electrica informs the shareholders and investors that, on 17 December 2020, the High Court of Cassation and Justice took note of the waiver of the appeal in file no. 8019/2/2017, formulated by the undersigned and the distribution subsidiaries Societatea de Distributie de Energiei Electrice Transilvania Nord S.A. (SDTN), Societatea de Distributie de Energiei Electrice Transilvania Sud S.A. (SDTS) and Societatea de Distributie de Energiei Electrice Muntenia Nord S.A. (SDMN), admitting the appeal and canceling the appealed decision.

The object of the file is:

a. The annulment of the administrative acts by which the requests formulated by the distribution companies for the favorable approval of the transfer of the AMR System from Electrica to the distribution branches subsidiaries were rejected, respectively: (i) the ANRE address no. 63911 dated 22.09.2017 for SDMN (ii) ANRE address no. 63910 dated 22.09.2017 for SDTN, (iii) ANRE Address no. 63912 dated 22.09.2017 for SDTS.

b. obliging ANRE to issue administrative documents for the favorable approval of the transfer of the AMR System from Electrica to each of the above-mentioned concessionary operators, taking into account the provisions of ANRE Order no. 31/2013 on the Methodology for regulating the conditions for taking over electricity distribution capacities, taking into account the transfer requests, respectively all the elements indicated in them and taking into account the net book value of the AMR System at September 30, 2017; and

c. obliging ANRE to make the necessary corrections on the regulated income taken into account when establishing the previously approved distribution tariffs, following the inclusion of the investment with the AMR System in the regulated base of the concession operators' assets, taking into account all the elements shown in the petition 2 of the summons.

Societatea Energetica Electrica S.A.

9, Grigore Alexandrescu str.

010621 District 1, Bucharest, Romania Phone: 021-208 59 99; Fax: 021-208 59 98 Fiscal Registration Certificate RO 13267221 J40/7425/2000

Share capital: 3.464.435.970 LEI www.electrica.ro

The case was registered before the Bucharest Court of Appeal in October 2017, being rejected on the merits as inadmissible, on 24.04.2018. Against this solution, Electrica and the three distribution subsidiaries filed an appeal.

Chief Executive Officer

Georgeta Corina Popescu

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Societatea Energetica Electrica SA published this content on 18 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 December 2020 16:20:04 UTC


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Financials
Sales 2020 6 449 M 1 580 M 1 580 M
Net income 2020 332 M 81,4 M 81,4 M
Net cash 2020 66,8 M 16,4 M 16,4 M
P/E ratio 2020 13,9x
Yield 2020 4,61%
Capitalization 4 564 M 1 115 M 1 118 M
EV / Sales 2020 0,70x
EV / Sales 2021 0,76x
Nbr of Employees 8 126
Free-Float 35,7%
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Technical analysis trends SOCIETATEA ENERGETICA ELECTRICA S.A.
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TrendsNeutralBullishBullish
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 13,35 RON
Last Close Price 13,44 RON
Spread / Highest target 16,1%
Spread / Average Target -0,71%
Spread / Lowest Target -10,7%
EPS Revisions
Managers and Directors
NameTitle
Georgeta-Corina Popescu Chief Executive Officer
Mihai Darie Chief Financial Officer
Cristian Bosoanca Chairman
Mircea-Toma Modran Chief Information Officer
Bogdan George Iliescu Independent Non-Executive Director
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