ALTEO’s success story continues

A kimagasló 2020-as eredményeket is felülmúlva a cég fennállásának legjobb eredményszámait produkálta az év első kilenc hónapjában, megnégyszerezve konszolidált nettó profitját. A rekordnegyedév elsősorban az újgenerációs energetikai cég stratégiájának és fejlesztéseinek egyik kulcsterületéhez, a rendkívül sikeres időszakot záró Szabályozási Központhoz köthető, de emellett a megújuló energetikai és energiakereskedelmi üzletágak is kiválóan teljesítettek.

The company produced the greatest results of its history in the first nine months of the year by quadrupling its consolidated net profit, thereby surpassing its outstanding 2020 figures. The record quarter is primarily linked to one of the key strategic and development areas of the new generation energy company, namely the Regulatory Center which just concluded an outstandingly successful period. In addition, the renewable energy and energy trade business segments have also performed extremely well. 

Compared to the same period last year, ALTEO Plc.’s unaudited consolidated net results of IFRS standards has grown by 315 percent, reaching HUF 4.9 billion, which is a record in the company’s history. The consolidated EBITDA was nearing HUF 9.7 billion, which is a 119 percent increase compared to the base, and can be mainly attributed to the outstanding efficiency of the Regulatory Center controlling heat and electricity production. The latter favorably benefited from the 18MW expansion of the gas driven capacities of the center, as well as the exploding countervailing energy prices and the average prices of capacity sales, in relation to the reference period.

„We are proud of our results, but we cannot sit back: we systematically aim to exploit the outstanding expansion opportunities in the energy sector.” – stated CEO Attila Chikán Jr.

In line with this – following the closing of the third quarter – we put into operation another 5MW energy storage unit at the Kazincbarcika Heating Power Plant site. Another development that is related to the city is that we have won the right for another ten years to supply heat to district heating in Kazincbarcika.

Evaluating the entire year, Attila Chikán Jr. highlighted: „2021 has shown us that the flexible reaction capability our Regulatory Center excels in, the development of supportive innovative solutions and the aim for sustainable energy production are decisive success factors in the changing modern energy sector. These factors play an important role in our strategy and the results of 2021 clearly show we are on the right path.”

Read more: portfolio.hu