BEH’s revenues double from last year

The revenues of the Bulgarian Energy Holding (BEH) JSC for the first nine months of 2012 were double the amount for the same period of last year, showed the published financial report of the Finance Ministry. The gross profit for January-September is almost equal to the revenues, totaling BGN 560.86 mln, while last year’s profit before taxes was BGN 235.1 mln.

The gross profit of Bulgartransgaz for the period amounted to BGN 94 mln, up from BGN 83 mln last year.

The Kozloduy NPP concluded the first nine months of 2012 with a pre-tax profit of BGN 142.6 mln, compared to BGN 178.2 mln for the same period of last year. The company’s revenues amounted to BGN 655.1 mln, registering a slight decrease of 2.4%, compared to the same period of 2011. Proceeds from electricity accounted for the largest share (95%) in the structure of revenues from the overall operation of the plant. These decreased by BGN 25.75 mln (4.03%), mainly due to the 3% drop in the electricity sold during the period, compared to 2011. The costs incurred for the activities of Kozloduy NPP amounted to BGN 515.4 mln.

For the first nine months of 2012, another company of BEH – the National Electric Company (NEK) accumulated a loss of BGN 77.2 mln, compared to a profit of almost the same amount for January-September 2011. This is due to the low selling wholesale prices of electricity on the regulated market, as the company has already warned. However, after the hike of electricity prices as of July 1, 2012, NEK posted a profit for Q3 of the year, as per preliminary data.

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