The philosophy of the operation of energy systems is constantly changing – a flexible company must recognise such changes.
ALTEO. Acting differently, while still considering energy paradigms that are the most efficient for stakeholders. After all, there is always more than one good solution. What is certain, however, is that the path we choose with our partners must be profitable in the long run.
Why can't there be a company that is able to join the established major players in the market through its vision, mobility and strength? This was the question we asked 10 years ago.
On 19 March, 2008, no one dared to give an answer. Still this was the vision that drove the founders of the company who used actions instead of words. They established ALTEO, an energy company that became a versatile and fast-acting, exchange-traded giant with a diversified portfolio. All within a decade.
By acquiring Sinergy Energiaszolgáltató, Beruházó és Tanácsadó Kft., then owned by the ELMŰ-ÉMÁSZ Group, ALTEO rose to be a key player in the Hungarian energy sector. Thus the vision turned into reality.
By integrating Sinergy, the ALTEO Group’s power plant portfolio has been expanded to include additional renewable and traditional high-efficiency energy production systems.
And what is in store for the future? This also depends on you. After all, it does not matter where the world is headed, we will be able to grow by creating value in collaboration with our partners, while still being a viable option for all our stakeholders.
One thing is certain. In autumn 2016, our company had a successful initial public offering, quadrupling the free float of our shares, while raising nearly HUF 1.4 billion for the implementation of our strategic plans.
We have been following this path with continuously renewed energy ever since. And this does not change.
With energy in mind.
ALTEO signs share purchase agreement with ÉLTEX Kft., a key player in the Hungarian waste management market
We have made significant progress in the expansion of our waste management business and in the areas of circular economy and sustainable development: we signed a share purchase agreement to acquire ÉLTEX Kft., a leading player in the Hungarian waste management and recycling market. The transaction allows us to contribute to the recycling of an…
ALTEO again supports important social causes as holidays approach
Csodaműhely Association, which works to create equal opportunities for disadvantaged people, and AppArt Association, which runs a distinctive cultural initiative, were awarded grants this year in ALTEO’s open call for applications to alleviate heating problems and to implement energy modernization.
ALTEO results significantly above pre-energy price boom levels
In the first nine months of 2024, ALTEO’s results have stabilized at a level higher than before the energy price boom, confirming the long-term sustainability of the company’s strategy. ALTEO ended the period with HUF 74.8 billion in revenue, an EBITDA of HUF 14.8 billion and HUF 8.6 billion in net profit.
Morningstar Sustainalytics affirms ALTEO’s medium ESG risk rating
In 2022, ALTEO became the first company in the Hungarian energy sector to obtain an independent, international ESG certificate, which it has received every year since then, and for the third time in 2024. ALTEO is committed to sustainable development: it addresses the high risks of the energy sector through strong risk management and continuous…
ALTEO becomes 100% owner of FE-GROUP
ALTEO has acquired the 24.9% stake held by Blue Planet Venture Capital Funds in FE-GROUP, a key player in the waste management sector, making it the sole owner of the company.
New battery electricity storage facility project providing nearly one fifth of the total Hungarian capacity delivered by ALTEO in Győr
ALTEO’s new 8MW/16MWh battery electricity storage facility in Győr has started operations, and will significantly contribute to the utilization of weather-dependent renewable energy sources. The energy storage unit in the Győr Industrial Park will increase the total energy storage capacity currently operating in Hungary by almost 20 percent, of which ALTEO provides about 40 percent.
ALTEO in the top 15% of EcoVadis sustainability ratings
ALTEO has been awarded silver rating in one of the world’s most trusted sustainability schemes. EcoVadis is an independent assessment platform that evaluates the performance of companies and suppliers based on environmental, social and corporate governance criteria. ALTEO received an outstanding score of 80 out of a maximum of 100.
EBITDA grows further in the second quarter despite a declining energy price environment
Despite the moderating energy price environment, ALTEO managed to maintain its profitability in the first half of 2024 at a higher level than in the pre-2022 energy price explosion period, and even increased its EBITDA quarter-on-quarter, with second quarter earnings of EUR 5.3 billion, up 9% year-on-year.
ALTEO starts the second half of the year with doubled solar capacities
ALTEO has commissioned a solar farm on the outskirts of Tereske, Nógrád county. With a capacity of nearly 20MWac, built in its own investment and construction in just three quarters of a year, the plant will double the company’s solar capacity in the second half of 2024.
ALTEO achieves good results in the first quarter despite sharply falling electricity prices
The significant drop in energy prices did not break our momentum and we delivered strong numbers, although the first quarter saw a continued decline in energy prices, which also impacted our results. In this period, we achieved a consolidated net profit of HUF 2.6 billion, while consolidated EBITDA amounted to HUF 4.5 billion. Although these…
Our commitment to sustainability is reinforced and demonstrated in our ESG Summary 2023
The ESG Report is an extract of ALTEO’s Integrated Report, published for the eighth time this year, providing a comprehensive insight into the operation of our power plants, the development of our electromobility business and our achievements in waste management. In addition to this, our CSR Strategy 2023 has been established, and the creation of…
ALTEO receives another stock exchange recognition
Despite the decreasing energy market price environment, ALTEO essentially repeats previous year’s outstanding results
ALTEO offset the sharp fall in energy prices in 2023 with a diversified portfolio of activities and assets, and its ability to respond flexibly to changing market conditions. This performance helped the company which is also taking significant strides in the area of sustainability, to exceed the upper band of the median EBITDA range presented…
ALTEO Group subsidiary wins multi-million grant
ALTEO Group subsidiary FE-GROUP INVEST Zrt. has been awarded a HUF 300 million grant from the Energy Strategy Institute for the transition to a circular economy. The grant will allow the company to implement an investment project that will enable it to properly sort and treat more than 15 thousand tons of waste collected in…
ALTEO celebrates Christmas with charity again this year
As it has done in previous years, ALTEO has once again donated its Christmas entertainment budget to support energy efficiency improvements for the most vulnerable and to alleviate heating problems that are particularly acute during the cold months. This year, the open call for applications was won by Menhely Alapítvány (Shelter Foundation) and Tűzcsiholó Egyesület…
ALTEO expands its Virtual Power Plant with new gas engines and battery electricity storage facility
ALTEO is implementing an overall HUF 5.5 billion self-funded project in Sopron and Győr. This involves the commissioning of an 8MW/15MWh battery electricity storage facility and a 3MW and a 6MW gas engine in the first half of 2024 at the two sites.
ALTEO wins bronze award at the Prizma Creative PR Awards in Employer Branding category
On the evening of November 23, the ALTEO team returned home from the Prizma Creative Awards 2023 gala with a bronze award in hand. We won in the Employer Branding category, having competed with the most creative solutions in the Hungarian PR sector with our “Harness your power, come work with us” campaign.
ALTEO wins Business Ethics Award in “Large Company” category
This year, ALTEO was the recipient of the prestigious Business Ethics Award: this is a recognition of our commitment to sustainability, our belief in ethical business practices and our ethical behavior towards employees.
ALTEO commissions new electric boilers
After the electric boiler operating at its Sopron power plant, ALTEO has integrated two additional devices into its Virtual Power Plant, which will also enable the conversion of electricity generated from renewable energy sources into heat. The hot water produced by the boilers installed in the heating power plants in Kazincbarcika and Tiszaújváros is fed…
ALTEO hosts CH4NCE – 1st ALTEO Biogas Conference
ALTEO’s first Biogas Conference attracted a full house and was a huge success, and we had the opportunity to explore the colorful palette of the biogas sector in the company of the best in the business. Overall, the presentations and roundtable discussions offered new perspectives and solutions that can help the growth of the biogas…
ALTEO wins the Gold Award for best HR communication solution at HRKOMM Awards
Winning the award in the “Storytelling, film, video” category is a great honor for ALTEO, as our employer branding films were recognized at the most prestigious competition in the HR communication industry.
ALTEO manages to grow despite declining energy prices
In spite of dropping energy prices, ALTEO Group’s key performance indicators showed growth in 2023 H1, with consolidated EBITDA up 8 percent and net profit up 10 percent year-on-year.
ALTEO’s ESG rating improves
In February 2022, ALTEO became the first company in the Hungarian energy sector to obtain an independent, international ESG certificate. Based on the assessment by Sustainalytics, the company performed better, i.e. achieved a lower risk rating, than the industry average. The 2023 review showed further improvement in rating, and the company scored 26.1 on Sustainalytics’…
ALTEO prepares to double its solar park portfolio
Having secured the approval of the Board of Directors, ALTEO is moving forward with a new solar power plant in Nógrád County, in the scope of its own investment and construction project. The development project, worth more than EUR 17 million and capable of meeting the electricity needs of more than 10,000 households a year,…
ALTEO Group subsidiary is subcontractor of waste management concession
Fe-Group Invest Zrt., a subsidiary of ALTEO, has signed a two-year service contract, renewable for an additional two years, with MOHU MOL Hulladékgazdálkodási Zrt., the winner of the 35-year waste concession in Hungary, for the collection, transport, storage and pre-treatment of waste.
Strongest Quarter in History for ALTEO
ALTEO continues to perform exceptionally well, with EBITDA up 70 percent year-on-year in the first quarter and consolidated net profit up 103 percent.
ALTEO Establishes New Virtual Power Plant Integrating Renewables
As the first company in Hungary, ALTEO has established an aFRR-capable Virtual Power Plant integrating purely renewable power plants.
15-Year Anniversary
ALTEO celebrates its 15th anniversary this year.
ALTEO’s Ownership Structure Changes
As of March 21 2023, MOL RES Investments Zrt. – wholly-owned by MOL Nyrt. –, Főnix Private Equity Fund and Riverland Private Equity Fund have acquired a 73.807% stake in ALTEO Nyrt.
ALTEO Adds Electrical Boiler to Its Virtual Power Plant Serving the Increased Use of Renewable Energy
The new electrical boiler installed at ALTEO’s Sopron Power Plant is now in operation, further increasing the flexibility of the Company’s Virtual Power Plant and creating the possibility to convert electricity generated from renewable energy sources into heat.
Joint Development by ALTE-GO, Continest and HOTTA Green Energy Allows Electric Cars to Be Charged Anywhere
ALTE-GO, the e-mobility business line of ALTEO Group, Continest Technologies Zrt., a company specializing in the development and production of foldable and special containers, and HOTTA Green Energy Kft., a leader in the construction of individual electrical networks, have joined forces to develop a mobile container electrical charging station capable of charging several cars simultaneously,…
ALTEO Multiple Best of BSE Winner Again This Year
Based on its performance last year, ALTEO was recognized in two categories at the Best of BSE Awards, one of the most important events of the Budapest Stock Exchange. A key player in the Hungarian energy sector, ALTEO came out on top in both “The Issuer of the Year with the Highest Share Price Increase…
ALTEO Ends Its Most Successful Year Ever
The Company traded in the Prime Market of the Budapest Stock Exchange achieved consolidated EBITDA of over HUF 20 billion in 2022. This is 57 percent higher than the previous year.
Charity competition to fight energy poverty
Szimbiózis Foundation has won ALTEO’s charity competition to alleviate energy poverty, in the framework of which ALTEO provides HUF 2 million to support the winning NGO’s fight against energy poverty.
ALTEO closes another successful quarter
ALTEO’s consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) continue to show massive double-digit growth, driven mainly by the ALTEO Control Center, the record profits of the retail segment and the stable performance of the company’s renewable power plants.
ALTEO and Shell start a joint used cooking oil collection program in Hungary
The used oil or grease is turned into 100 percent biodiesel for recycling.
ALTEO acquires a stake of more than 75% in FE Group, thus significantly integrating ALTEO’s waste management activities and further strengthening its role in the circular economy and sustainable management
This year, ALTEO was successful in three categories based on its 2021 performance at the Best of BSE Awards, one of the most prestigious events of the Budapest Stock Exchange
It was awarded the title of Issuer of the Year with the highest share price increase in the premium category, and also won the CSR, Sustainability, Corporate Governance Award and the Mid-Cap Issuer Transparency Award.
ALTEO obtains ESG certification
ALTEO is the first company in the Hungarian energy sector to obtain an independent, international ESG certificate after achieving a lower risk rating than the industry average, based on the Sustainalytics assessment.
ALTEO publishes a new five-year strategy, after having partially or fully met the targets set in 2019
The Gibárti Hydroelectric Power Plant has been renewed
We have completed the renovation of the 100 years old and heritage monument Gibárt Hydroelectric Power Plant
ALTE-GO starts!
New e-mobility business unit has been started
ALTE-GO concluded a cooperation agreement with ShareNow
ALTEO concluded a cooperation agreement with AutoWallis
Sustainability and ESG became part of our strategy
The third Integrated Report of ALTEO has been completed
We have prepared our third Integrated Report, in which we have disclosed the financial results of the past year and the impact of our operations on the environment and society. Despite the difficulties caused by the pandemic, we should have no reason to complain: our company has delivered outstanding performance in all three areas.
One year without any accident!
Thank you all for the sacrificial work and effort that led to this very beautiful result!
BSE “Growth Bond Program Issuer Award” received!
We received a stock market recognition for our bond issuance performance for the last year
COVID-19
To prevent the spread of the pandemic, we donated large quantities of disinfection fluids and protective masks to 6 municipalities during the year.
Premium category12 September 2018
ALTEO’s ordinary shares – previously in the Standard category – are now trading in the highest, Prime Market category of the Budapest Stock Exchange. As the symbolic certification of the reclassification, trading on 12th September was opened by Attila Chikán jr., CEO of ALTEO.
Energy storage facility has started its test run13 August 2018
By completing their battery energy storage facility an important sustainability milestone is being reached by ALTEO GROUP. The facility is unique not only in Hungary but also in Central and Eastern Europe, and it was developed within HUF 1,1 million R&D project. ALTEO obtained HUF 500 million at a tender of the National Research and…
ALTEO expanded its photovoltaic power plant portfolio23 July 2018
ALTEO Group integrated a new photovoltaic power plant into its portfolio on the periphery of Nagykőrös. The new unit is expected to begin its operation in the first half of 2019. By the transaction ALTEO’s solar capacity will reach 20 megawatt.
New solar energy plant14 March 2018
ALTEO successfully acquired a hundred percent stake in Péberény Real Estate Ltd. The energy company which is listed in BSE supplemented its portfolio with a new unit of 6,9 megawatt capacity in the periphery of Balatonberény.
Transfer of the right of ownership of Zugló-Therm’s30 January 2018
The natural gas service provider of National Utilities Ltd and ALTEO Group have signed the sales contract for the majority shares of Zugló-Therm power plant. Following the fulfillment of the terms recorded in the contract, Sinergy – member of ALTEO Group – will be the owner of Zugló-Therm.
Extended contract with Heineken18 January 2018
HEINEKEN Hungária Sörgyárak Zrt extended its contract for another 8 years with ALTEO Group owned Sopron Power Plant. In line with the contract ALTEO continue to provide all necessary steam and thermal water to the Heineken’s brewery in Sopron.
First solar power plant went into operationDecember, 2017
ALTEO Group finalised negotiation procedures, and became the owner of a solar power plant with the capacity of 2 MW at Domaszék, Hungary. This means that the first operating photovoltaic unit has been put into ALTEO’s power plant portfolio.
First Sustainability ReportNovember, 2017
The Sustainability Report of ALTEO draws a broad and substantial picture on the operation of the company, its values and aspirations. The report outlines a roadmap enhancing the vision for a stable and long-term corporate operation.
ALTEO split its sharesNovember, 2017
In line with the decision made at the extraordinary general meeting held on 8 November 2017, ALTEO Nyrt. converted its ordinary shares with a nominal value of HUF 100 to 8 ordinary shares with the nominal value of HUF 12.5 forint each.
Revival of ALTEO brandSeptember, 2017
An innovative and new world of ALTEO has been born: the company’s new slogan – “With energy in mind!” has also been launched as a result of an extensive branding procedure. We also implemented a modern, new visual identity for the company.
Landfill Gas Power Plant in DebrecenAugust 2017
ALTEO’s new landfill gas fired power plant, the result of a HUF 300 million investment with a capacity of 499 kilowatts, has begun to operate. The new Debrecen facility is the third such unit in the company’s energy generation portfolio, which prevent 15,000 tons of carbon dioxide-equivalent greenhouse gas escaping to the atmosphere each year.
HUF 500 million for ALTEO’s energy storage R&D projectJune 2017
Almost HUF 500 million was granted to ALTEO by the National Research, Development and Innovation Office for supporting the development of an innovative application model for battery energy storage technology. Thanks to the support the company could begin an R&D project worth about HUF 1.1 billion in total, in which it will examine the possible…
HUF 200 million investment in SopronJune 2017
ALTEO Group launched an HUF 200 million development at the Sopron Power Plant, resulting in a new 10 megawatt steam being installed in the plant area, increasing the power plant’s capacity.
Private bond issuance to institutional investorsMarch 2017
Institutional investors fully underwrote all the 215,000 bonds offered for sale worth HUF 2150 million.
Initial Public Offering (BSE)
The company’s shares were moved from the BSE’s “Technical” category to “Standard”. Having been created and credited to securities accounts, ALTEO’s newly issued shares started trading on the Budapest Stock Exchange today from 9am. The company’s shares were moved from the previous “T” (technical) category to BSE’s “Standard” category. Having been listed on the BSE…
Acquisition of Sinergy Kft. 4 May 2015
“This is a huge step in ALTEO’s history”, Attila Chikán Jr., CEO of ALTEO Energiaszolgáltató Nyrt., said after completion of the acquisition. “In terms of opportunities, the acquisition of the Sinergy Group is a milestone comparable only to the company’s foundation in 2008 or its listing on the stock exchange in 2010. The acquired know-how,…
Purchase of 1 wind turbine May 2013
Licence for Natural Gas Trading Activities grantedFebruary 2012
Incorporation as a Public Limited CompanySeptember 2010
Acquisition of Landfill Gas Power Plants in Nyíregyháza and DebrecenSpring 2010
Purchase of Győri Erőmű Kft. and Soproni Erőmű Kft.31 December 2009
Purchase of Hidrogáz Kft.
Electricity Trading Activities Launched2009 1 January
Establishment of the Company
The company was founded on 19 March 2008, with the founding shareholders identifying electricity production as its core business.
