ELMŰ-EMÁSZ revenue falls in H1

Telco

Electricity distributors EMÁSZ and ELMŰ had decreased revenue in y.o.y. terms in the first half of 2014, while EMASZ's net profit rose y.o.y. and ELMŰ's declined, the companies' consolidated IFRS reports for the period published on Friday evening show.

EMASZ had net profit of HUF 1.8 bln and revenue of HUF 45.5 bln in H1, up 11.1% and down 7.06%, respectively. ELMŰ had net profit of HUF 4.6 bln on revenue of HUF 112 bln in H1, down 2.4% and 1.1%, respectively. Germany's RWE-EnBW have a majority stake in both ELMŰ and EMÁSZ, while the state-owned Hungarian Electricity Works (MVM) owns a minority of the companies. EMÁSZ and ELMŰ are both Equities Standard-category issuers on the Budapest Stock Exchange

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