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MVM revenue doubles in 2021

Power

Consolidated revenue of state-owned energy group MVM rose 100% to HUF 2.851 tln last year, an annual report published on Friday shows.

Cost of sales climbed at a faster clip, rising 169% to HUF 1.937 tln.

MVM was close to break-even for the year, booking a net loss attributable to shareholders of just a couple hundred million forints.

In a separate statement, MVM acknowledged that external factors played a role, in part, in lifting turnover. The group also noted that it acquired Czech peer innogy Ceska Republika in October 2020 and Hungarian electricity company ÉMÁSZ Hálózati in September 2021.

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