Bulgaria, BEH recorded a net profit in the amount of 639 million euros in 2021

, SEE Energy News

State-owned Bulgarian Energy Holding (BEH) recorded a net profit in the amount of 639 million euros in 2021, which is almost eight times higher compared to a profit of 80.5 million euros in the previous year .

The company’s revenues doubled in 2021 reaching 5.7 billion euros, mostly due to sizeable increase in revenues from the sale of electricity and natural gas. Its expenditures also rose in 2021, with expenditures on materials increasing by 23.8 % year-on-year to 187 million euros, while those for salaries rose by 8.3 % to 527 million euros.

BEH’s assets increased to some 12.54 billion euros at the end of December 2021, compared to 10.44 billion euros at the end of 2020.

BEH pools several state-owned energy companies, including electricity producer National Electricity Company (NEK), coal-fired thermal power plant Maritsa East 2, nuclear power plant Kozloduy, electricity transmission system operator ESO, natural gas transmission system operator Bulgartransgaz and gas supplier Bulgargaz.