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Serbia's EPS turns to net loss in H1

Author Radomir Ralev
Serbia's EPS turns to net loss in H1 Elektroprivreda Srbije (EPS)

BELGRADE (Serbia), September 22 (SeeNews) - State-owned power utility Elektroprivreda Srbije (EPS) turned to a net loss of 49.255 billion dinars ($414.0 million/419.7 million euro) in the first half of 2022 from a net profit of 11.211 billion dinars in the like period of last year.

The company's revenue went up 16.1% on the year to 176.1 billion dinars, while costs almost doubled to 214.0 billion dinars to 132.6 billion dinars, EPS said in an interim financial statement posted on its website.

EPS produced 15.4 TWh of electricity in the first half of 2022, 1% below the planned output and by 16% compared to the power produced in the like period of last year.

The electricity generated by hydropower plants was 17% above the plan, while coal-fired power plants' output was 1% above the planned production. The production of renewable energy was 56% below the plan.

(1 euro = 117.298 dinars)

Javno Preduzece Elektroprivreda Srbije is among the biggest companies in SEE, for more reference take a look at Top 100 companies