Slovenian energy company GEN-I has recorded a net profit of 24.9 million euros for 2023, compared to 29.8 million euros in 2022, according to unaudited data.
“GEN-I Group generated 2.9 billion euros in revenue in 2023, a 29% drop compared to the previous year. The main reason is the lower prices of energy products and lower volume of trading caused by the temporary regulatory restrictions on the wholesale energy markets,” the company said in a statement.
The company recorded earnings before interest, taxes, depreciation and amortisation (EBITDA) of 37.9 million euros in 2023, down from 53 million euros in 2022, GEN-I said.
“With the simultaneous increase of the group’s capital at the expense of the generated net profit for the accounting period, the capital structure of the GEN-I Group was even more robust at the end of the year. Favourable financial indicators made it easier for GEN-I to meet all the expectations of the capital market,” it added, seenews reports.
