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

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Published:

May 21, 2020

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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.

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