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Slovenian energy group GEN's 2019 cons net profit up 18% to 48 mln euro

Author Iskra Pavlova
Slovenian energy group GEN's 2019 cons net profit up 18% to 48 mln euro Author: Savske Elektrarne Ljubljana. License: All rights reserved.

LJUBLJANA (Slovenia), January 15 (SeeNews) – Slovenian state-owned energy producer GEN said its consolidated net profit rose to 48 million euro ($54 million) last year from 40.7 million euro in 2018.

The net profit achieved in 2019 was a quarter higher than planned, GEN said in a statement earlier this week.

The group generated 2.2 billion euro in turnover last year, compared to 2.4 billion euro in 2018.

The net profit of the umbrella company, GEN Energija, rose to 26 million euro in 2019 from 24.5 million euro a year earlier. GEN Energija's revenue increased to 207 million euro from 204 million euro in 2018.

The group said it plans to invest 150 million euro this year, up from 100 million euro in 2019, most of which was invested in maintenance and repair works at Slovenia's sole nuclear power plant Nuklearna Elektrarna Krsko (NEK).

NEK produced higher-than-planned 5,532 GWh of electricity last year, GEN said.

Among the other power production units in the GEN group, the hydro power plants on the river Sava produced a total of 876 GWh.

At the same time, the Brestanica thermal power plant performed better compared to previous years, producing enough power to help the Slovenian electricity system's balancing needs, while also selling electricity on the market, GEN said without giving figures.

($=0.896921 euro)