December 20 (SeeNews) - Bosnian power utility Elektroprivreda BiH [SAJ:JPESR] said it expects to book a pre-tax profit of 13.1 million marka ($7.5 million/6.7 million euro) in 2021, revising upwards its May projection for 12.4 million marka.
The company also hopes to increase its pre-tax profit to 27 million marka in 2022 and to 30.9 million marka in 2023, Elektroprivreda BiH said in a statement last week.
Elektroprivreda BiH's pre-tax profit came in at 10.5 million marka in 2020.
The company's operating revenue is forecast at 1.1 billion marka in 2021, up from 1 billion marka in 2020, while operating costs are expected to rise to 873 million marka from 832.5 million marka.
The company plans to borrow nearly 1.64 billion marka from foreign and local financial institutions to cover investments in the 2021-2023 period.
The shareholders will vote on the three-year plan at a meeting on December 30.
Elektroprivreda BiH, Bosnia's largest power utility, is based in the Federation entity. Elektroprivreda RS is the power utility of the Serb Republic.
The Federation and the Serb Republic are two autonomous entities that form Bosnia and Herzegovina.
(1 euro = 1.95583 marka)