Montenegro: TSO company CGES marks profit 2.6 MEUR

22. April 2014. / SEE Energy News

Montenegro transmission system finished last year with profit of 2, 64 MEUR, two and a half time less than at the end of 2012th. The State is owner of 55 percent of CGES shares, while the Italian “Terna” owns about 22, 09 percent of the shares.

The business company incomes at the end of December amounted 26, 65 MEUR and were reduced for 8, 6 percent compared to the same period last year, and operating expenses were reduced for 3, 7 percent at 22, 66 MEUR. Salaries amounted 6, 71 MEUR, and active increased 5, 5 percent at 210 MEUR. Unappropriated company profit amounts 12, 5 MEUR, long- term loans 28, 4 MEUR, and short- term loans 13, 8 MEUR.

The State is owner of 55 percent of CGES shares, while the Italian “Terna” owns about 22, 09 percent of the shares.

Source; Serbia Energy See Desk

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