Hungary: Significantly increased Q 2021 profit at Alteo

, SEE Energy News

In the first quarter of the year, the alternative energy company Alteo recorded a net profit in the amount of 2.65 million euros, which is a 137 % increase year-on-year. The company’s revenues rose by 5 % to 27 million euros in the first three months of the year. The material costs fell by 11 % to 17 million euros, thus lifting the operating profit by 171 % to 4.15 million euros. Alteo Group recorded a consolidated net profit of 1.6 million euros in 2020.