January 25 (SeeNews) - Slovenian state-owned electricity producer GEN recorded a consolidated net profit of 23 million euro ($25 million) last year, which was below plan due to a rise in energy products' prices, it said.
The electricity deficit caused by the reduction of gas supplies and drought had to be compensated by imports at record-high market prices, GEN said in a statement on Tuesday.
GEN recorded a turnover of 4.1 billion euro last year, backed by international trade, the stable operation of Krsko nuclear power, as well as self-sufficient solar power plants, the energy producer said.
"Due to the extreme rise in prices on the market, we did not achieve the plan, but the group operated at a profit, which we consider successful under the given conditions. Since we have our own capacity to produce electricity at a predictable price, we can implement the government's measures and protect Slovenian consumers from the excessive price impacts of uncertain conditions on the energy markets," general manager Dejan Paravan said in the statement.
The net profit of the parent company, GEN Energija, totalled 1 million euro and was also below the plan, while its turnover totalled 372 million euro, GEN said.
In 2021, GEN booked a consolidated net profit of 80 million euro on revenues of 3.0 billion euro, while GEN Energija recorded a 26 million euro net profit on revenues of 230 million euro.
($ = 0.92011 euro)