Alteo Earnings Flat in Q1-Q3

Analysis

After-tax profit of listed alternative energy company Alteo edged up 1% year-on-year to HUF 11.3 billion in Q1-Q3, an earnings report released on Monday shows.

Revenue increased 22% to HUF 76.9 bln. Material expenditures climbed 24% to HUF 49.3 bln and "other costs" jumped 112% to HUF 6 bln, boosted by a windfall profit tax.

Diluted earnings per share came to HUF 570 for the period.

Hungarian oil and gas company MOL indirectly holds a controlling stake in Alteo.

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