Business News

Energy group GEN-I reports record profit for 2020

Ljubljana, 18 February (STA) - The Slovenian energy group GEN-I sold a record 127.4 terawatt hours of electricity last year to generate the highest net profit to date. At EUR 15.4 million the profit was one percent above that posted in 2019 despite revenue falling by 4% to EUR 2.1 billion.

The group, active in trade, retail and purchasing of energy products, was successful across all its divisions and has been improving its financial position further with capital growth, the group said in a regulatory filing with the Ljubljana Stock Exchange.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 40% to EUR 32.07 million. Pre-tax profit increased by 6.4% to EUR 20.2 million.

The release also said that the group was keeping its net financial indebtedness low.

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