Bosnia: Power utility EPBiH revenues fall in 1H 2015

21. August 2015. / SEE Energy News

The Electric Power Industry of BiH has made net profit of about 1.6 MEUR in the first half, after in the same period last year operated with a profit of about 4.MEUR based on the company’s financial report published on the Sarajevo Stock Exchange.

Electric Power Industry BiH has recorded a decline in operating income in the first six months to around 4.1 percent.

Revenues amounted to 233.6 MEUR compared to 244 MEUR in the first half of 2014th.

The fall in revenue was primarily the result of lower sales on the foreign market, 4.3 MEUR compared to 12.3 MEUR in the same period last year.

Operating expenses amounted to 226.5 MEUR and about 4 percent lower than in the first six months of 2015th, at which primarily influenced lower material costs.

The company has also achieved a reduced financial income of 1.9 MEUR compared to 2.8 MEUR in the same period of 2014th due to lower interest income.

The Electric Power Industry of BiH employs 4,917 workers.

The company is 90.3-percent state owned (BiH Federation), ZIF BIG Investment Group owns a 2.0 percent of shares, ZIF Herbos Fund 0.67%, ZIF Naprijed 0.62%, ZIF CroBiH Fund 0.58%, ZIF Prevent Invest 0.58% etc.

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