ELMŰ-ÉMÁSZ margins narrow in first half 2013

Music

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

 

ADVERTISEMENT

PMI rises to 57 in June Analysis

PMI rises to 57 in June

Lawmakers postpone expanded data provision for tourism secto... Parliament

Lawmakers postpone expanded data provision for tourism secto...

MNB and Budapest Institute of Banking executive director Ger... Podcasts

MNB and Budapest Institute of Banking executive director Ger...

FINA head thanks Hungary for hosting 2022 worlds City

FINA head thanks Hungary for hosting 2022 worlds

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.