SARAJEVO (Bosnia and Herzegovina), December 14 (SeeNews) – Bosnian power utility Elektroprivreda BiH [SAJ:JPESR] said it expects to book a net loss of 21.8 million marka ($13.2 million/11.1 million euro) in 2017, from a net profit of 12.9 million marka a year earlier.
The unplanned net loss is due to unfavourable hydrological conditions and higher than expected expenditures, the power utility said.
EPBiH had projected in its business plan net profit at 538,000 marka in 2017.
The power utility also said it plans to bounce back to a net profit of 15.9 million marka next year, and to raise it to 34.4 million marka in 2019.
Its total revenue is seen reaching 1.14 billion marka this year, up from a planned 1.02 million marka, while total expenditures are expected to exceed plan by 13.1% to 1.16 million marka.
Total revenue is predicted to return to 1.02 million marka in 2018, before rising slightly to 1.03 million marka in 2019.
EPBiH also projects strong results for 2020, with revenue at 1.02 million marka and a net profit of 33.9 million marka.
Electricity production is seen at 7,116 GWh this year, down from 7,245 GWh in 2016. Production is expected to rise to 7,342 GWh in 2018 and 7,393 GWh in 2019.
EPBiH projects that the number of its customers will increase by 1% year-on-year to 758,000 at end-December, before expanding further to 765,000 next year and 772,000 a year later.
EPBiH is based in the Federation, one of the two autonomous entities making up Bosnia and Herzegovina. The other one is the Serb Republic. It is the biggest of Bosnia’s three power utilities.
(1 euro=1.95583 Bosnian marka)