Hungary: ELMU and EMASZ recorded 13.6 million euros profit in Q1

3. June 2016. / SEE Energy News

The combined net profit of Hungarian regional electricity distributors ELMU and EMASZ, which are both majority owned by German RWE, has reached 13.6 million euros in the first quarter of 2016.

ELMU, which covers the area around the Hungarian capital Budapest, recorded a net profit of 10.4 million euros in the first quarter of this year, which is a 124 % increase compared to the same period in 2015. Operating revenues of the company increased by 5 % reaching 150.4 million euros, while its operating expenses fell by 3 % and amounted to 109.9 million euros.

EMASZ, which distributes electricity in the northern region of Hungary, reported that its net profit fell by 6 % compared to the first three months of 2015, reaching around 3.2 million euros. Operating revenues dropped by 4 % to 48.6 million euros, while operating expenses fell by 8 % to 28.1 million euros, transmits Serbia-energy.eu

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