ELMŰ-ÉMÁSZ margins narrow in first half 2013
The margins of Hungarian electricity distributors ELMŰ and ÉMÁSZ, both majority-owned by Germany-based RWE-EnBW, narrowed in the first half from the same period a year earlier, the companies reported.
Revenue of ELMŰ, the electricity distributor for the capital, rose 1% to HUF 111.6 billion, but material costs climbed more than 6% to HUF 91.4 billion, causing operating profit to drop by 32% to HUF 8.3 billion. Net profit came to HUF 4.6 billion (appr. €15.28 million), down 32%.
Revenue of ÉMÁSZ, which has a distribution area in the north of the country, edged up half a percentage point to HUF 44.3 billion. Material costs rose almost 1% to HUF 35.2 billion. Operating profit was down 51% at HUF 2.1 billion, but net profit rose 5% to HUF 1.8 billion (€5.98 million) on the back of higher financial profit.
– Written by Gábor Pákozdi
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