State-owned Hungarian Electricity Works (MVM) recorded net revenues in the amount of 4.1 billion euros in 2017, which is 28.7 % higher compared to the previous year.
The company’s non-consolidated pre-tax profit in 2017 amounted to 78.5 million euros, down by 32.7 million euros compared to 2016. MVM’s outstanding long-term liabilities stand at almost 400 million euros. Its biggest creditor is the Bank of China, which was owed some 212 million euros at the end of December. The company’s tax bill shrunk to 34 million euros in 2017, from 44.8 million euros in 2016.
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Tags: electricity, financial, Hungary, MVM