Serbian subsidiary of Italian Fintel Energia Group – Fintel Energija said that it has recorded a net profit in the amount of some 190,000 euros in the first nine months of 2022, which is almost doubled compared to a profit of around 100,000 euros in the same period last year.
The statement from the company said that its financial revenues increased by 2.6 % on an annual level in the nine months of 2022 to 750,000 euros, while its financial expenses dropped by 20 % to 320,000 euros.
Fintel Energija operates 13 wind farm in northern province of Vojvodina. In May, the company announced the construction of the first agrovoltaic project in Serbia, to be built in Kula. The solar power plant will have a capacity of 660 MW, and the planned annual production of green energy is about 832 GWh, which meets the needs of about 200,000 households.
Fintel Energija successfully completed the first initial public offering (IPO) on the Belgrade Stock Exchange since 1940 on 31 October 2018. The company raised 6.4 million euros through the IPO, in which investors subscribed for 1,510,506 shares at an issue price of 4.2 euros per share.