NAP Books HUF 522 mln Profit

Green Energy

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Nap, a solar power company listed on the Budapest Stock Exchange's Xtend platform for SMEs, projects a significant increase in full-year earnings, based on first-half results posted on the BSE's website.

In its announcement, the firm said it had an after-tax profit of HUF 522 million on net revenue of HUF 1.1 billion in H1.

For the full 2021 calendar year, it had an after-tax profit of HUF 99 mln on net revenue of HUF 581 mln.

Nap estimated it would finish 2022 with an after-tax profit of HUF 1.1 bln-1.3 bln on net revenue of HUF 2.4 bln-2.5 bln.

The company noted that it had decided to move its 23 MW capacity solar power portfolio out of Hungary's feed-in tariff system and signed a one-year contract with a local energy trader at a higher, fixed price, effective from May 1.

Nap added that its board plans to extend the contract for the capacity for the 2023-2024 period.

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