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.

ADVERTISEMENT

Czech economic confidence weakens in July Analysis

Czech economic confidence weakens in July

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.