Alteo Q1 Earnings Double 

Green Energy

First-quarter after-tax profit of listed alternative energy company Alteo rose 103% year-on-year to HUF 5.7 billion, an earnings report published on Monday shows, state news wire MTI writes.

Revenue climbed 89% to HUF 36.1 bln, supported mainly by higher energy market prices, complemented by increased capacity, Alteo said. 

Operating profit rose 88% to HUF 6.9 bln.

The bottom line was lifted by a modest financial gain, compared to a HUF 0.3 bln financial loss in the base period.

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