Slovenia: GEN-I profit increased in 2019

, SEE Energy News

Slovenian energy trader GEN-I dales revenues dropped by 6.5 % to 2.2 billion euros last year, while its expenditures also decreased by 5.4 % to reach 2.17 billion euros. The company said that its consolidated net profit rose by 18.4 % year-on-year in 2019 and amounted to 15.3 million euros.

Its earnings before interest, taxes, depreciation and amortization (EBITDA) rose 12.5 % to 23 million euros in 2019, while its earnings before interest and taxes (EBIT) increased by 22 % to 19.8 million euros.

Last year, GEN-I sold a record amount 83.4 TWh of electricity, which is 6.7 % more compared to 2018 sales. Slovenian state-owned company Gen Energija has 50 % stake in GEN-I, while the other 50 % is owned by its affiliated company GEN-EL, who acquired it from Petrol in 2018 for some 45 million euros.