January 31 (SeeNews) - CEZ Distribution Bulgaria [BUL:3CZ], majority owned by Czech power utility group CEZ, said on Wednesday its non-consolidated net profit rose to 30.6 million levs ($19.5 million/15.6 million euro) in 2017 from 24.8 million levs the year before.
The company's non-consolidated operating revenue grew to 436.3 million levs last year from 424.2 million levs in 2016, CEZ Distribution Bulgaria said in its annual financial statement filed with the Sofia bourse.
Operating expenses increased to 402.3 million levs in 2017, compared to 396.6 million levs a year earlier.
Earlier this month, CEZ group told SeeNews it is still in talks with one of the potential buyers of its assets in Bulgaria and hopes a deal will be concluded in the first quarter of the year.
The Czech group has already agreed the sale of one its assets in Bulgaria, a 1,260 MW thermal power plant (TPP) located in Varna, to a Bulgarian buyer. On December 12, Bulgaria’s Commission for Protection of Competition said it has allowed Bulgarian logistics company SIGDA to acquire Varna TPP for an undisclosed price.
The remaining assets of CEZ Group in Bulgaria comprise CEZ Distribution Bulgaria, the public supplier of electricity and a licensed trader CEZ Electro Bulgaria, licensed electricity trader CEZ Trade Bulgaria. The operations of those companies are managed and coordinated by CEZ Bulgaria.
(1 euro = 1.95583 levs)