Are you sure?

Genesis Energy reports HUF 611m loss in H1

Genesis Energy Investment, which owns units building solar panel plants in Hungary, Spain and Singapore, had practically no revenue and a loss of HUF 611 million for the first half, the company said in its consolidated IFRS report for the period published late Tuesday.

Genesis had net assets of HUF 23.7 billion on June 30, almost six times the HUF 4.1 billion twelve months earlier. The big increase came as share capital jumped to HUF 26.2 billion from HUF 4.0 billion. Genesis closed a HUF 21.6 billion capital raise around the end of the period.

Genesis had capital reserves of HUF 2.6 billion and retained losses of HUF 5.2 billion. Total assets were practically level with net assets. (MTI-Econews)