Alteo Profit up 315% y.o.y.

Green Energy

The after-tax profit of listed alternative energy company Alteo rose 315% year-on-year to HUF 4.9 billion in January-September, according to a presentation of non-audited data published on the website of the Budapest Stock Exchange.

Revenue increased 24% to HUF 29.05 bln, and material costs fell 3% to HUF 15.67 bln, lifting operating profit 169% to HUF 6.68 bln.

Alteo said the substantial increase in revenue was primarily the result of rising energy market prices while material costs fell as revenue growth in the heat and electricity generation segment was realized in activities with non-significant material costs.

ADVERTISEMENT

PMI rises to 57 in June Analysis

PMI rises to 57 in June

Lawmakers postpone expanded data provision for tourism secto... Parliament

Lawmakers postpone expanded data provision for tourism secto...

Tihamér Tóth appointed European Court judge Appointments

Tihamér Tóth appointed European Court judge

FINA head thanks Hungary for hosting 2022 worlds City

FINA head thanks Hungary for hosting 2022 worlds

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.