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Big financial loss puts PannErgy deeper in red

Telco

Geothermal energy company PannErgyʼs first-half losses increased to HUF 252 million from HUF 58 mln in the corresponding period of 2015 as financial losses grew, an earnings report released late Friday shows, Hungarian news agency MTI reported.

Revenue climbed 61% to HUF 2.13 billion as project output was ramped up, though PannErgyʼs operating margin narrowed to 5.0% from 8.4%. 

PannErgy booked a HUF 333 mln financial loss in H1, compared to a HUF 113 mln loss in the base period.

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