Slovenia, GEN-I estimates that its net profit will amount to 70 million euros in 2021

, SEE Energy News

Slovenian energy supplier and trader GEN-I estimates that its net profit will amount to 70 million euros in 2021.

The statement from the company said that it increased its business volume by more than 30 % and concluded 200 TWh of trade agreements, which increased operating revenues to 3.4 billion euros.

President of the Management Board Robert Golob said that 2021 was GEN-I’s most successful business year to date. In the face of extreme conditions in the energy markets, which have forced many suppliers to raise prices or even abandon their activities, GEN-I has strengthened its value – net profit was four times higher than planned and the company did not rise prices for its customers.

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.

GEN-I is a 50/50 joint venture of Slovenian stateowned energy group GEN Energija and its affiliate investment firm GEN-EL Nalozbe.