Elmű, Émász profits fall as margins narrow

Telco

After-tax profit of regional electricity distributors Elmű and Émász, both majority-owned by Germanyʼs RWE-EnBW, fell in Q3 from the same period a year earlier as material costs rose, according to earnings reports published late yesterday.

Elmű, which distributes electricity in the capital, said its after-tax profit fell 3.5% to HUF 3.1 billion. Revenue rose 5.5% to HUF 57.8 bln, but material costs climbed at an even faster rate, increasing 7% to HUF 44 bln.

Émász, which distributes electricity mainly in the north of the country, said its after-tax profit dropped 33% to HUF 1.2 bln. Its revenue rose 2.3% to HUF 21.1 bln, but was outpaced by a 6% increase, to HUF 13.5 bln, in material costs.

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