Slovenia: Four times higher profit at GEN-I

, SEE Energy News

In the first half of the year, Slovenian energy group GEN-I recorded a net profit in the amount of 30.6 million euros, which is around four times higher than planned for this period.

The profit recorded in the first half of the year represents about 200 % of the planned result for the entire 2021. The company recorded EBIT in the amount of 37.8 million euros, which is 260 % more than planned for H1 2021, on revenues of 1.3 billion euros.

Based on the exceptional results in the first six months of 2021, GEN-I management decided to upgrade the original business plan for 2021 and now envisages EBIT of 50.7 million euros and a net profit of 40.3 million euros in 2021.

GEN-I traded some 100 TWh of electricity on international markets in the first half of the year and sold almost 1,000 small-scale solar power plants with a total capacity of 10.5 %, which is a 70 % increase compared to H1 2020.

In 2020, GEN-I recorded a net profit in the amount of 15.4 million euros, a slight increase compared to 2019. The company’s revenues dropped by 4.7 % to 2.1 billion euros in 2020, while its EBIT increased by 18.2 % to 23.4 million euros.