Elektroprivreda Srbije (EPS) achieved a profit of 527.3 million euros in the first half of 2023, mainly due to an increase in production and a reduction in costs, the domestic energy company announced.
As stated, the EPS financial result for the period from January to June represents progress, bearing in mind that the company had a loss of 420.6 million euros in the same period last year.
For the sake of comparison, the largest employer in Serbia operated in the red throughout the year, which reached 629 million euros at the end of the business year, and the recovery began in the first quarter of the current year, with a net profit of 294 million euros.
The production of electricity from hydropower plants increased by 40 percent, while coal-fired power plants recorded an increase of three percent.
EPS expenditures amounted to 1.6 billion euros, ie 239 million euros less than in the same period last year.
The cost of purchasing electricity was reduced from 612 million euros to 167.2 million euros, according to the report.
In March of last year, Miroslav Tomašević replaced Milorad Grčić as acting director of EPS, and the company is now undergoing transformation into a joint stock company.
