Alteo earnings rose to HUF 5.9 bln last year
Net income of listed alternative energy company Alteo rose by a factor of close to 10 to HUF 5.9 billion last year from HUF 600 million in the base period, according to an earnings report released on the website of the Budapest Stock Exchange yesterday.
The bottom line was lifted by higher turnover, boosted by rising energy prices, and wider margins.
Revenue rose 34% to HUF 44.2 bln. Material costs climbed at just one-third that pace, increasing 11% to HUF 25.6 bln, raising operating profit 249% to HUF 8.9 bln.
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.