Albania: Significantly lower profit at OST in 2020, SEE Energy News
In the first nine months of this year, Albanian state-owned electricity transmission system operator OST recorded a net profit in the amount of some 830,000 euros, compared to a net profit of 8.5 million euros in the same period last year.
The company’s operating profit rose slightly to 12.13 million euros in the first nine months of the year, from 12.1 million euros in the same period in 2019. On the other hand, revenues from its core business – transmission services, decreased to 31.5 million euros from 32.3 million euros. The company’s financial expenses rose sharply in the first nine months of 2020 reaching 6.6 million euros, compared to 2.1 million euros in the same period last year. The company’s total assets increased to 590.7 million euros at the end of September, compared to 580 million euros a year earlier.
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