Electricity

GEN-I reports record net profit of EUR 15.3 million in 2019

GEN-I-reports-record-net-profit-of-EUR-15.3-million-in-2019

Photo: GEN-I operates on 21 power exchanges in Europe (GEN-I)

Published

May 21, 2020

Country

Comments

0

Share

Published:

May 21, 2020

Country:

Comments:

0

Share

GEN-I Group has reported a record net profit of EUR 15.3 million for 2019. Its electricity sales also reached an all time high – 83.4 TWh.

Net profit increased by 18.4% on an annual basis while the value of power it sold increased by 6.7%, the energy firm’s annual report 2019 reads.

The company has announced a vacancy note for 50 positions

GEN-I has generated more than EUR 2.2 billion in revenue for the third year in a row.

GEN-I said on its website that, due to outstanding results, it is seeking 50 new workers.

In 2020 the company targets EUR 14.3 million in net profit and EUR 2.5 billion in revenue, the report reads.

President of GEN-I’s Management Board Robert Golob said net profit exceeded EUR 15 million for the first time in history.

In 2020 the company targets EUR 14.3 million in net profit and EUR 2.5 billion in revenue

The number of employees rose by 25% and the company reduced net debt to less than half of EBITDA, he said, adding the results are based on the efforts to implement the green vision of the group’s development.

Golob said the company has reacted swiftly to neutralize the effects of COVID-19. One of the first moves was to lower prices for consumers.

He underlined GEN-I would continue the green and digital transformation of its business.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Montenegro EPCG ready reconstruction TPP Pljevlja jump costs

Montenegro’s EPCG ready for reconstruction of TPP Pljevlja despite jump in costs

22 October 2021 - State-owned utility EPCG says the reconstruction of coal-fired TPP Pljevlja should begin soon and prevent massive imports of electricity

Spain on track to phase out nuclear, coal by 2035 energy storages

Spain on track to phase out nuclear power, coal by 2035

22 October 2021 - The phaseout of coal and nuclear power plants will be offset with a simultaneous and gradual increase in renewable power capacity

Romania’s supplier Electrica acquires 31 MW solar power plants

Romania’s supplier Electrica acquires 31 MW in solar power plants

22 October 2021 - Romanian power and distribution and supply company Electrica has taken over five firms that operate solar power plants

Slovenia Electricity Supply Act two year delay

Slovenia adopts Electricity Supply Act after two-year delay

22 October 2021 - The National Assembly passed the Electricity Supply Act after adopting amendments that make all end consumers in the market equal