EPS projected profit but they will have losses

, News Serbia Energy

Electric Power Industry of Serbia (EPS) planned an operating profit of 5.4 billion in 2013, but the total financial result at the end of the year will be a loss of 21.4 billion, due to repayment of short-term loans amounting to 27.7 billion dinars. That is, according to the company’s magazine “kWh”, provided by the annual business program of the company for next year, and a large share of the costs goes to short-term loan repayments.

It is planned that in 2013 revenues from electricity, which are made in accordance with the electric power balance of EPS,should be 176 billion, while total operating income should be 197.4 billion dinars, said the Director for Economic and Financial Affairs in EPS Branislav Vukosavljevic at the meeting of the Board of Directors. “Operating expenses of EPS in 2013 should amount to 192 billion, so the company’s operating profit in the next year would be 5.4 billion, which is a significant improvement compared to 2012, “said Director Vukosavljevic, during the presentation of the annual operating program for 2013. However, the total financial result will be a loss of 21.4 billion dinars, since a great share in the cost will go to repayment of short-term loans of 27.7 billion dinars, said Vukosavljevic.

Source Serbia Energy Magazine