Bulgaria, CEZ Distribution Bulgaria recorded a net profit in the amount of 11.6 million euros in Q1 2022, SEE Energy News
Electricity distributor CEZ Distribution Bulgaria recorded a net profit in the amount of 11.6 million euros in the first quarter of 2022, compared to a profit of 9.3 million euros in the same period last year.
The company’s operating revenues rose to 63.6 million euros in the first three months of the year, which is a 13.3 % increase compared to the same period in 2021. Operating expenditures increased to 50 million euros from 45.6 million euros in the previous year.
Last July, insurance group Eurohold Bulgaria announced that it has completed the acquisition of the Bulgarian assets of the Czech energy company CEZ for 335 million euros. The statement from the Eurohold Group reads that it has acquired 67 % interest in electricity distributor CEZ Distribution Bulgaria and electricity supplier CEZ Electro Bulgaria, as well as 100 % of the shares of licensed electricity trader CEZ Trade Bulgaria, IT services company CEZ ICT Bulgaria, solar park Free Energy Project Oreshetz, biomass power plant Bara Group, and CEZ Bulgaria – the coordinator of CEZ Group’s units in Bulgaria, through its wholly-owned subsidiary Eastern European Electric Company.
The company should soon be renamed to Electrodistribution Grid West.