Montenegro, EPCG recorded a net profit in the amount of 6.45 million euros in H1 2022

, SEE Energy News

Montenegrin state-owned power utility EPCG recorded a net profit in the amount of 6.45 million euros in the first half of 2022, compared to a profit of 17.1 million euros in the same period last year.

The company’s operational revenues increased by 43 % year-on-year and reached 244.4 million euros in the first six months of this year, while its operational expenditures also rose by an annual 58.4 % to 223.6 million euros, with additional 12.3 million euros in personnel expenses.

EPCG’s short-term liabilities amounted to 82 million euros in the first half of 2022, while its long -term liabilities amounted to 35.3 million euros. The company’s retained earning at the end of June 2022 amounted to 73.6 million euros.

Total assets of the company amounted to 1.257 billion euros at the end of June 2022, up 2.7 % on the year.