EPS records loss of 20MEUR in 2012, new CEO announces financial stabilization

16. April 2013. / News Serbia Energy

Power company of Serbia (EPS) had a 2,4 billion dinars’ loss (around 20 million EUR) in 2012- it was published in the new number of the company newsletter.

Director of EPS Direction for Economy Business, Braislav Vukosavljevic, said that this split the loss from 2011 (4,8 billion dinars).

He said that operational financial team of EPS has already succeeded to determine a possibility for saving 5 billion dinars this year.

EPS has published earlier that he misses 50 billion dinars for business predicted with this year’s business plan.

Managing Director of EPS, Aleksandar Obradovic, said that this is one of the reasons for rebalance preparation of this year business plan is that overhaul plan and sustainability plan to be harmonized with financial assets.

Media reported earlier that EPS had produced 600 million of KWH more than it had been consumed in the first quarter of a year.

Director of Sector of electricity and heating energy production, Vera Stanojevic said that circulating plants, thanks to good hydrology situation gave 538 million KWH more electricity than in the same period last year and that they participated in this years’ total electricity production with more than 30%.

Stanojevic said that TPPs save 90.000 tons of coal that way and other expenses of electricity production, were also reduced.

Source;Serbia Energy/EPS

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