Alteo H1 Earnings Climb on Higher Revenue

Green Energy

After-tax profit of listed alternative energy company Alteo rose to HUF 8 billion in the first half of the year from HUF 2.8 bln in the same period a year earlier, the company said on Monday, according to a report by state news wire MTI.

Revenue increased 92% to HUF 38 bln, which was outpaced by the doubling of material costs to HUF 22 bln. Operating profit still rose 145% to HUF 9.9 bln as the rate of growth for personal expenses were lower and depreciation costs decreased

Alteo said revenue growth was driven mainly by a sharp rise in electricity prices, increasing capacity and regulatory revenues, and higher heat feed-in tariff.

For electricity production plants selling electricity within the subsidized system, material expenses increased more than the revenue growth, primarily due to the increased costs of scheduling and balancing energy. 

ADVERTISEMENT

Czech Republic Manufacturing PMI Lowest Since May 2020 Analysis

Czech Republic Manufacturing PMI Lowest Since May 2020

Gov't Mulls Bailout for Dunaferr Government

Gov't Mulls Bailout for Dunaferr

Blue Chip Art and Passion Assets - Claudia Worthington Hess ... Podcasts

Blue Chip Art and Passion Assets - Claudia Worthington Hess ...

Magyar Posta to Close 35 Post Offices in Capital City

Magyar Posta to Close 35 Post Offices in Capital

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.