HEP achieved 160.5 million euros net profit in H1 – Croatia, 1 September 2016

Croatian state-owned power utility HEP recorded a net profit in the amount of 160.5 million euros in the first half of 2016, which is almost 37 million euros more than in the same period last year. At the same time, HEP’s investments rose by 73 % reaching 23.4 million euros in the first half of the year.
HEP’s operating revenues in the said period amounted to 547 million euros, which is 1.9 % lower than in the first sic months of 2015. Due to unusually high temperature during winter season, HEP recorded lower gas sales on the wholesale market, which resulted in 22.9 million euros lower revenues from gas sales. Ina addition to lower sales, the decrease in revenues was also affected by lower gas prices on the regulated market. On the other hand, revenues from electricity sales increased by 36.9 million euros due to higher sales on foreign markets.

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