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Alteo expects revenue to approach HUF 6 bln in 2010

Hungarian energy supplier and trader Alteo expects to close 2010 with revenue of almost HUF 6 billion, up from HUF 1.3 billion in 2009, the company told MTI.

Alteo's order stock this year exceeded last year's already in October, the company said.

Alteo expects to sell 43 GWh of electricity in 2010, said CEO Attila Chikán Jr. Sales could rise 30-40% in 2011, he added.

Alteo's shares were listed in category 'B' of the Budapest Stock Exchange on October 11.

Alteo had unconsolidated total assets of HUF 1.45 billion and net assets of about HUF 920 million at the end of 2009. Liabilities came to about HUF 450 million, Econews reported earlier. (MTI – Econews)