September 3 (SeeNews) - The earnings before tax (EBT) of state-run Bulgarian Energy Holding (BEH) group rose 29.3% year-on-year to 255.8 million levs ($187 million/130.8 million euro) in the first seven months of 2009, BEH said.
BEH (www.bgenh.bg), set up in September 2008, incorporates assets of Bulgaria's sole nuclear power plant Kozloduy, gas monopoly Bulgargaz, gas transmission system operator Bulgartransgaz, telecommunications operator Bulgartel, power grid operator NEK and its wholly-owned system operator ESO, coal-fired power plant Maritsa East 2 and the Maritsa East coal mines. Its assets exceed 10 billion levs and it employs some 22,000 people.
"The increase in profit is due to improved results of Bulgartransgaz, Maritsa East 2, Bulgargaz an Kozloduy, as well as to the reduced loss of NEK," BEH said in a statement on its website on Tuesday.
The Maritsa East Mines, NEK and Bulgartel posted losses of 20.5 million levs, 30.3 million levs and 570,000 levs, respectively, in the first seven months of 2009.
Bulgaria's centre-right government led by Prime Minister Boyko Borisov, which took office after the July 5 elections, has said the energy megastructure was absolutely redundant and should be closed down.
Following are details from BEH's income statement (in millions of levs):
|
7-mo'09 |
7-mo'08 |
2008 |
EBT |
255.8 |
197.9 |
105.2 |
EBIT |
241.3 |
209.9 |
180.9 |
EBITDA |
520.0 |
491.9 |
677.3 |
OPERATING REVENUE |
2,887.2 |
2,808.8 |
5,101.7 |
COSTS |
2,367.2 |
2,316.9 |
4,424.4 |
(1 euro = 1.95583 Bulgarian levs)
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