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All companies of the Elektro Gorenjska Group were profitable in the last financial year.
“Positive business is critical for us. Distribution companies are at a turning point in their development.”
Kranj – “After a sharp drop in revenues and negative business in 2022 due to the Act on Emergency Measures to Mitigate the Consequences of High Energy Prices, the business of the Company and the Elektro Gorenjska Group stabilizes again in 2023,” they noted in Elektro Gorenjska.
Last year, as they completed their sixth decade of operations, the parent company generated operating income of €46.6 million and net sales of €37 million, a 42% increase on the previous year. Elektro Gorenjska posted a net profit of €5.4 million, compared to a net loss of €1.9 million at the end of the previous year.
Gorenjske Elektrarne achieved a net profit of nearly 7.2 million euros (2.3 million euros in 2022), and GEK Solar, a company they founded last year to carry out engineering activities in the field of solar power plants, recorded a profit of about 621,000 euros.
Elektro Gorenjska Group’s operating revenue was EUR 63.2 million; net sales revenue reached EUR 55 million, an increase of 59% compared to 2022, and a net profit of EUR 10.7 million (EUR 247,000 in 2022).
Strengthen investment
“Positive business is very important for us. Distribution companies are at a turning point in their development. Taking into account the existing trend of electricity consumption growth and the development strategy, we will have to further strengthen our investment activities in the future, otherwise investment activities will increase year by year.” Operating results. According to the national energy climate plan and user needs, they expect network investment to triple in the next five years.
Last year, they invested 29 million euros (56% more than in 2022), of which 23.2 million euros were invested in the parent company. In view of the green transition, most of the funds were allocated to so-called green investments: Elektro Gorenjska 16.1 million euros and Gorenjska Elektrarne 5.6 million euros. Compared to 2022, this figure increased by more than 33%, they added.
Last month, shareholders were informed about the operation of the companies of the Elektro Gorenjska Group. At the 31st General Meeting of Shareholders, attended by 85.62% of the company’s capital, they approved, among other things, the decision to pay a dividend to shareholders of nine cents per share from the balance sheet profit of 1.55 million euros. The dividend will be paid on July 26.
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