Slovenia’s HSE Group books EUR 11.8 million loss in 2018

Photo: HSE


June 12, 2019






June 12, 2019





Slovenia’s HSE Group, which includes state power utility Holding Slovenske Elektrarne (HSE), logged a EUR 11.8 million loss in 2018, compared to a EUR 8.21 million profit in 2017, mainly due to the impairment of the Šoštanj thermal power plant (TEŠ) operator’s assets, according to the group’s annual report.

Had it not been for the impairment, the HSE Group would have posted a EUR 6.7 million profit in 2018 instead of the loss, according to the annual report of Slovenia’s largest power producer.

The HSE Group’s 2018 loss was due to impairment of the Šoštanj coal power plant’s assets

TPP Šoštanj (Photo: HES)

The group reported sales revenues of EUR 1.47 billion in 2018, down from nearly EUR 1.59 billion in 2017. Even though electricity sales by volume declined by 17% year-on-year and sales revenues went down by 7% year-on-year, the HSE Group’s margin increased by EUR 1,823 per GWh thanks to an adjusted strategy in favor of short-term power trading, according to the report.

The group reported sales revenues of EUR 1.47 billion in 2018

The HSE Group reported EUR 128.1 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2018, a decrease by EUR 10.1 million compared to 2017, mainly due to a decrease in other revenues.

EBITDA stood at EUR 128.1 million, a decrease by EUR 10.1 million against 2017

The group’s investments in 2018 were worth EUR 57.4 million, according to the report.

HSE Group’s power generation rises 4% to 7.32 TWh in 2018

The group produced 7.32 TWh of electricity last year, an increase of 4% compared to 2017, as hydropower plants’ (HPP) output rose 21% and TPP production decreasing 5%. The Avče pumped storage power plant’s production plunged by 31% due to overhaul in the fourth quarter of 2018.

HSE Group’s power output was at 7.32 TWh in 2018, an increase of 4%

The HSE Group accounts for 65% of Slovenia’s overall output and is the country’s largest producer of electricity from renewable energy sources, which account for nearly 85% of its energy mix, according to reports.

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


Fossil fuels returned as top energy source in EU power generation in 2021

01 July 2022 - Among renewable sources, the biggest increase in 2021 was seen in electricity produced from solar energy, 13%,

Voltalia breaks ground Albania biggest solar park Western Balkans Karavasta

Voltalia breaks ground in Albania for biggest solar park in Western Balkans

01 July 2022 - The site for the Karavasta solar park spans 196 hectares in Fier county in Albania's west. The planned capacity is 140 MW.


Serbia’s power utility EPS posts Q1 net loss of EUR 254 million

30 June 2022 - The state-owned power utility is blaming the poor result on a drop in output, electricity imports, and capped prices for end-consumers

EU agrees fossil fuel car ban as climate package talks are starting

EU agrees fossil fuel car ban as climate package talks are starting

29 June 2022 - The Council of the EU and European Parliament are set for talks on the Fit-for-55 package. Both agree new combustion engines should be banned by 2035.