PannErgy books narrow losses on improved margin

Telco

Hungarian geothermal energy company PannErgy booked a HUF 383 mln loss in the first three quarters, down from a HUF 587 mln loss in the base period as margins improved, an earnings report published yesterday reveals.

The company’s revenue experienced a rise of 149% reaching HUF 1.56 bln, while direct cost of sales climbed just 108% to HUF 1.16 bln. PannErgy still racked up a HUF 78m loss at operating level.

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