Slovenia: HSE’s net recorded three times higher profit in 2019

, SEE Energy News

The statement from the company said that its revenues in 2019 reached 1.7 billion euros, while its earning before interest, taxes, depreciation and amortization (EBITDA) amounted to over 160 million euros last year. Slovenian state-owned electricity produced HSE recorded a net profit in the amount of 30 million euros in 2019, which is three times higher compared to the previous year.

General Director of HSE Stojan Nikolic said that 2019 financial result is a good starting point for 2020, which was, however, marked by extraordinary circumstances at the very beginning, namely the crisis caused by the coronavirus outbreak.

HSE generates about 70 % of the electricity produced from renewable energy sources in Slovenia. Half of the company’s generation capacities are in renewable energy sources, while the other half consists of two coal-fired and four gas-fueled units at thermal power plant Sostanj.

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