Financial loss nudges Alteo into red in Q1
Hungarian energy supplier and trader Alteo finished the first quarter just under the break-even mark as financial losses pushed the company into the red. Revenue climbed 14% to HUF 2.02 billion, Alteo's consolidated IFRS report published late Tuesday shows. Gross profit rose 8% to HUF 387 million and EBITDA was up 44% at 370 million. But financial losses swelled to HUF 265 million from HUF 33 million in the base period to give Alteo a HUF 13 million net loss. The company had net profit of HUF 168 million in Q1 2012. Alteo had total assets of HUF 9.0 billion on March 31, up 6% from the end of 2012. Net assets edged down a little less than 1% to HUF 1.88 billion.
Report Points to Increased Risk on Commercial Real Estate Ma...
Chinese President to Visit Budapest in May
Hungarian Gen Z Auto-buyers Prioritize Affordability
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
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.
