Bosnia and Herzegovina, RiTE Gacko recorded a net profit in the amount of some 280,000 euros in 2021

, SEE Energy News

Coalmine and thermal power plant (RiTE) Gacko, operated by power utility ERS, recorded a net profit in the amount of some 280,000 euros in 2021, compared to a profit of 660,000 euros in the previous year.

The company’s operating revenues dropped by 0.6 % year-on-year to 65.5 million euros in 2021, while operating expenses rose by 3.8 % to 67.5 million euros.

In its three-year business plan, RiTE Gacko envisaged losses in the amount of 6.8 million euros in 2019 and around 300,000 euros in both 2020 and 2021. Planned investments for the three -year period amount to 121.5 million euros which should be primarily financed through loans.