Hungarian Electricity Works net profit up 58.7% in 2012
State-owned Hungarian Electricity Works (MVM) had net profit of HUF 73 billion last year, up 58.7% from 2011, MVM Chairman-CEO Csaba Baji announced on Thursday. MVM had revenue of HUF 768 billion, up 18.52%. The MVM chairman-CEO noted that the company's strong 2012 financial results stemmed partially from one-off factors, such as HUF 12 billion in European Union-authorized coal-industry transformation support. MVM shareholders decided at the company's Wednesday AGM to pay HUF 10 billion, or HUF 400 per share, in dividends on 2012 profits.
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.