PannErgy recorded losses in the first half of 2016 – Hungary, 5 September 2016

Hungarian geothermal energy company PannErgy recorded a loss of some 814,000 euros in the first half of 2016, compared to a loss of 187,000 euros in the same period last year, mostly due to an increase in financial losses.
The company recorded a financial loss of 1.08 million euros in the first six months of this year, compared to 365,000 euros loss in the same period in 2015. The company’s revenues increased by 61 % and reached 6.88 million euros, although operating margin shrunk from 8.4 % to 5 %.

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