Roxana, the floor is yours.
Thank you. Thank you, Valentina, and hello, everybody. I will deliver indeed the presentation for the individual and consolidated financial statements for the first six months of 2025. We will start by discussing about the financial result. For the six months of 2025, we have a net profit of RON 866 million, which is higher than the previous period, comparative period of six months 2024 with 2.8% and above the budgeted value with 46%. We will go into details about these variations very soon. The net profit for this period is based on total revenues of RON 2.7 billion upon obtaining RON 2.6 billion sales of electricity, as we produced 5 TWh compared to the previous period, which is similar. Unfortunately, we had an increase in windfall tax compared with six months 2024. This was driven by a higher average selling price in the first semester above the capped price.
We have an increase of 14% in OpEx and also an increase in depreciation and amortization costs. Once again, the positive impact in the net profit was granted this semester by increasing sales of electricity. The increase is of RON 611 million. We obtained a positive financial result of RON 220 million, which is higher than the previous period with RON 60 million. This positive impact was compensated in a negative manner by the windfall tax of around RON 500 million. We had an increase in cost of traded electricity of around RON 60 million. I would also like to present EBITDA for the period, which is RON 1.1 billion, almost RON 1.2 billion, which is a little bit below than the previous period and above the budgeted figure of RON 955 million.
Because we also prepare consolidated financial statements, I would like to present the difference between the individual and the consolidated figures. As you know, we have three subsidiaries and also an associate. The subsidiaries are EnergoNuclear, the Uranium Processing Factory from Feldioara, and also Nuclearelectrica Serv, which delivers some services for Nuclearelectrica. The associate is RoPower. As you know, we net the individual financial statements with the intra-group transactions. We mainly have in revenues, for example, not a significant impact, but we have processing services invoiced by Feldioara, which are netted from the individual financial statements. We add the cost with the personnel of the subsidiaries, and we eliminate the services provided by Nuclearelectrica Serv. In terms of financial cost, EnergoNuclear obtains some results, mainly forex exchange expenses and interest revenues and forex exchange revenues.
At the level of profit, we recognize 50% of the result of the associate entity RoPower. In terms of income tax, we have some income tax from Nuclearelectrica Serv and EnergoNuclear. The financial position of Nuclearelectrica is again very strong, as you are used. We have, as main variations, an increase of 12% in non-current assets, around RON 1 billion, mainly due to the increase in net book value of tangible assets and the increase in net financial assets valued at amortized cost or the loans provided to RoPower and EnergoNuclear. Also, the current assets have a significant variation, but this time, a decrease of 17%, which is also around RON 1 billion. We have a decrease in bank deposits, cash and cash equivalents of RON 842 million. As you know, we paid the dividends in this period. This is mainly the cash out that we see here.
We have some decrease in trade receivables and in the balance of other financial assets valued at amortized cost. Namely, we liquidated some treasury certificates, and there is a reduction also in the VAT receivables. The non-current liabilities increased with RON 207 million or 52%. We withdrew EUR 40 million from the European Investment Bank for the CTRF project. This is one disbursement out of a EUR 145 million loan contract. The current liabilities decreased with RON 300 million, mainly coming from the reduction in the balance of accounts payable. As we know, this balance is paid in the immediate period. As for the equity of the company, we only have the increase with the profit of the previous period, the profit that was not distributed, and decrease from reverse of evaluation reserve as we depreciated the assets.
The financial position comparison between individual and consolidated, in terms of non-current assets, we have a difference mainly represented by the cancellation of intra-group transactions, such as the cancellation of loans granted by Nuclearelectrica to its subsidiaries, and also an impact from the fixed assets of the subsidiaries. In terms of current assets, we mainly have the cash and cash equivalent of EnergoNuclear. The consolidated equity is impacted by the retained earnings from the financial result of the subsidiaries, and the total liabilities is the total liability which remains after eliminating the intra-group transactions. Now, in terms of sales of electricity for the six months of 2025, we present you a bridge between the sales in the previous comparative period, six months of 2024, and current reporting period, six months of 2025.
Electricity sales increased during these two periods, determined mainly by the increase in weighted average selling price with plus 23.5%. In terms of quantity, we sold a little bit higher with 6.2%. We have no sales on the centralized acquisition market mechanism, and we will see that the entire quantity was translated or transposed to the competitive market, which increased in quantity sold and also in the weighted in the sales of Nuclearelectrica. We obtained for this period an average selling price of RON 516 per MW compared with RON 364.04 last year. This average selling price is obtained on the basis of spot market price of RON 550 and competitive market price of RON 518. The weight of competitive market sales is 90%, and the net weight of spot market sales is 10% in this period.
In terms of OpEx, the six months OpEx for 2025 is RON 1.9 billion, which is RON 658 million higher than the previous period and below the budget with 6.62%. The increase is mainly due to the windfall tax. For the comparative previous period, we had no windfall tax because the price was below the capped price of RON 450. As we've seen, the average price for the previous year was RON 419.78 per MW. This period is RON 516. In the last year, in the first semester, we had no windfall tax, but this semester we have RON 500 million windfall tax. The depreciation and amortization increase also because we put in function some assets. We also have an increase in other operating expenses. We have some legal and consulting services expenses that drove this increase. The cost of traded electricity decreased.
We had a little bit of increase in quantity of purchased energy. In terms of cost of uranium, the expense increased with around 30%. We had an increase in the weighted average cost of nuclear fuel bundles, which comprises all cost components. The increase in operating expenses was compensated by lower personnel expenses and also some decrease or no variations, actually, in ANRE contribution and a significant increase in the contribution towards ANRE, which is computed based on the sales of electricity recorded in the previous financial year. In terms of capital expenditure or CapEx, we realized RON 1.3, almost RON 1.4 billion during the first semester, which is around the 40% degree of completion. The entire budget for CapEx for 2025 is RON 3.4 billion, again, the degree of completion being 40%.
Compared to the previous period, the completion degree was 26%, but the absolute value was significantly lower, around RON 350 million. I will go through some updates, where is the case for major investments of the company. In terms of Unit 1 refurbishment, on 14th of July , we have a government decision number 586, by which the environmental agreement was issued for this project, and also the expansion of the spent fuel interim storage or DECA, the expansion with Maxtor 400 modules instead of Maxtor 200 modules. These two represent the fulfillment of the legal conditions for the environmental impact assessment and provide the necessary legal framework for continuing this project. In terms of Units 3 and 4, the project of EnergoNuclear subsidiary, we are also in the stage of procurement for services for the development of engineering and nuclear safety and also technical consultancy services for stage two.
The SMRs, we have an update on 26 of June , NuScale technology obtained an approval from the U.S. Nuclear Regulatory Commission or NRC for the standard SMR NuScale ’s Voyager design with the same modular power that we know, 77 MW. Also, the land transaction was completed based on the mandate obtained from the GMS of RoPower at the beginning of June 2025. The Board of Directors of SANA took note of this land transaction and the implementation by SANA of the measures related to the acquisition of the land ordered by SANA Board of Directors Decision Number 8 from May. In terms of CTRF or Tritium Removal Facility project, in May 2025, the regulator approval was obtained to begin the execution works. On 2nd of June 2025, at the site of CTRF, the first concrete was poured. The Lutetium-177 irradiation project is currently also at the conceptual design stage.
We are envisioning that in 2027, the installation and commissioning of the irradiation system will be done, and also that in 2028, the large-scale commercial irradiation service will be launched. Now, I would like to present some technical performances. We have radioactive emissions below the annual limit. We have a technical performance in nuclear fuel burnout factor above, sorry, the minimum of the project. We have a capacity factor of 84%, which is very good. I would like to say that it was influenced by the plant outage of Unit 2 in May and June. This is for today. These are all the information related to the reporting of the first half of 2025. Thank you.
If you have any questions, please. If there are no questions, thank you for taking part in this investors' call. We will make sure to post on our website, investorrelations.ph, the audio file of this meeting and also the presentation. Thank you very much, and have a good day.
Thank you. You too.
Bye.
Bye-bye.