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Elektroprivreda BiH’s 2014 profit 11.6 times lower year on year

March 16, 2015 | Comments: 0Author:

Power producer and distributor JP Elektroprivreda BiH d. d. said its last year’s profit was BAM 3.2 million (EUR 1.64 million), in comparison to BAM 37 million from 2013.

In a filing to the Sarajevo Stock Exchange, the company said it earned BAM 952 million last year, 29 million less than in 2013.

CEO Elvedin Grabovica told Dnevni avaz newspaper the reason for the drop in profit was cheaper power in international markets. He claims the company expected such a result due to unfavourable conditions, Energetika.ba portal reported. „In the year of natural disasters, one wouldn’t expect better… But for us the most important thing is that, taken all together, we still made a positive result,“ he said.