Croatia: Successful year for electricity trader GEN-I in Croatian power market, the report

With 39 employees, according to estimates, in 2013 company achieved 682 million kunas (90 MEUR) in operating income, of which 180 million (EUR 19.7 million) from the sale of electricity to business partners and households in the market…

GEN-I Group is currently present in 18 markets in electricity wholesale and 6 retail markets, 4 markets of natural gas, and another 9 European stock energy markets. Since the end of 2012, except for the parent company, GEN-I possesses also 12 subsidiary companies. It supplies electricity and natural gas to more than 100,000 customers in Austria, Croatia, Italy, Slovenia, Serbia and Macedonia, with a total sales volume of 4.5 billion kWh of energy annually. The company GEN-I doo Zagreb is operating on the Croatian market since 2005, and it began with the supply of electricity in 2010. At the meeting with reporters the company has presented its operating results for 2013…

“GEN-I Zagreb and the State Office for Central Procurement signed a framework agreement for the supply of electricity in November 2013. Agreement worth 93 million kunas (12.3 MEUR) excluding VAT, covers 35 ministries and state administration offices in Croatia and justice system, which is about 300 entities with approximately 1,500 metering points. On 01 January 2014 supplying all of the above institutions began.” They reported.

GEN-I Zagreb entered the market to supply electricity to households and small businesses in June 2013 The company has so far received more than 20 thousand queries, and currently supplies 10,174 households and 986 small businesses.

With 39 employees, according to estimates, in 2013 company achieved 682 million kunas (90 MEUR) in operating income, of which 180 million kunas (EUR 19.7 MEUR) from the sale of electricity to business partners and households in the market, which is even six times more  compared to the 2012. In 2013, they sold 332 GWh of electricity to business partners and 14.3 GWh to households.

In 2014 they are planning 1.036 million kunas (136.7 MEUR) in operating income, of which 324 million kunas (42.8 MEUR) from the sale of electricity in the domestic market (to business partners and households). And minimum profit is planned at the end of the year. In addition, the company plans to increase the share capital of the company up to the amount of 7.5 million kunas (1 MEUR) in early 2014.

Source; Serbia Energy See Desk

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