August 31 (SeeNews) - Croatian state-owned power utility Hrvatska Elektroprivreda (HEP) said on Wednesday its consolidated net profit remained flat from last year at 1.35 billion kuna ($200.9 million/180.5 million euro) in the first half of 2016.
Operating income edged up 0.5% on the year to 7.2 billion kuna in the review period, while operating costs were down 3.7% to 5.4 billion kuna, HEP said in a filing to the Zagreb bourse.
The rise in income is due to significantly higher electricity sales on foreign markets, HEP noted. However, lower winter temperatures led to a decrease in the sales of thermal energy by 7.5 million kuna.
Sales revenues edged down slightly through June to 6.85 billion kuna from 6.86 billion kuna last year.
HEP's hydro power plants contributed 36.5% of its total electricity output through June, producing 3.5 TWh, down by 0.1 TWh from the same period last year. Electricity imports increased by 0.6 TWh over the review period, while production in thermal power plants increased by 0.3 TWh.
HEP invested 806.2 million kuna in the review period, including replacement, reconstruction, rehabilitation of existing power facilities, construction and preparation for construction of new power facilities and for grid connections.
HEP group owns and operates over 4,000 MW of installed generation capacity and 974 MW of heat production capacity, including 25 hydroelectric plants and eight thermal power plants fired by oil, natural gas or coal.
(1 euro=7.4810 Croatian kuna)