Bosnia and Herzegovina: Decreased profit at EP HZHB in 2020

, SEE Energy News

In 2020, Bosnian power utility EP HZHB, the smallest of the three utilities in Bosnia and Herzegovina, recorded a significant decrease of its net profit. Its net profit dropped to around 420,000 euros last year, compared to a net profit of 1.3 million euros recorded in 2019. The company’s operating revenues in 2020 dropped by 33.3 % and reached 159 million euros, while operating expenditures decreased by 24 % to 160.8 million euros. EP HZHB recorded a significant profit drop in 2019 as well, mostly due to poor hydrological conditions, as utility’s production is primarily hydro-based. However, EP HZHB operates the sole large-scale wind farm in Bosnia and Herzegovina – 50.6 MW Mesihovina launched in March 2018.