Macedonia, Bulgaria: EVN energy business doing profitable, SEE Energy News
Austrian energy company reviewed and presented its business results for its South East Europe operations, specially in Macedonia and Bulgaria where EVN has a significant market presence since the privatization of the local companies.
Austrian utility group EVN announced its energy supply operations in Southeast Europe (SEE) turned to a pre-tax profit of 7 million euro ($7.7 million) in the first half of fiscal 2015 started October 1 from a pre-tax loss of 10 million euro a year earlier.
The group’s Energy Supply South East Europe segment encompasses the operation of electricity networks and the sale of electricity to end customers in Bulgaria and FYROM, the generation and sale of heat in Bulgaria as well as energy trading throughout the region. This segment also includes the project company responsible for building the natural gas networks in Croatia, specifically Split, Zadar and Sibenik.
EVN’s earnings EBITDA from SEE energy supply operations rose 40.5% to 51.1 million euro in the review period, the Austrian group said.
EVN’s total revenue from SEE energy supply operations increased 7.4% to 581.3 million euro in the first six months of fiscal 2015.
In the first six months of fiscal 2015, the electricity distribution volume amounted to 7,483 GWh and was 5.4% higher than in the year-ago period. Heat sales to end customers in Bulgaria were 13.6% higher at 174 GWh.
The volume of electricity generated by EVN in South Eastern Europe rose by an annual 35.1% to 288 GWh during the review period.
The volume of the group’s investments in SEE edged up 6.8% to 42.7 million euro in the first six months of fiscal 2015.