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HomeUncategorizedMontenegro: CGES net...

Montenegro: CGES net profit reached 36 million euros in 2023

Montenegro’s majority state-owned electricity transmission system operator Crnogorski Elektroprenosni Sistem (CGES) announced that its net profit increased to 35.7 million euros in 2023 from 20.3 million euros in the previous year.

In the same period, CGES’s net sales fell 9% to 108.4 million euros, while expenditures fell 29.9% to 60.4 million euros, CGES said in an annual financial statement posted on the website of the Montenegro Stock Exchange.

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