EPS Makes Profit of Around EUR 294 Million in First Quarter

Elektroprivreda Srbije (EPS) realized a net profit of RSD 34.5 billion, that is, around EUR 294 million, in the first quarter of 2023, the company says in a press release.

As added, in the same period last year, EPS recorded a loss of nearly RSD 30 billion.

– The business success is the result of increased production, profit from the export of electrical energy and cost reduction. The capacities of EPS produced 9.74 billion kWh of electrical energy, which is 17% more than from January through March last year. Stable production, favorable hydrological conditions and good planning have enabled EPS to sell surplus electrical energy in the power exchange and in the free market – the press release points out and adds that the profit from exports from January through March amounted to EUR 51 million, whereas, last year, EPS had to import energy at high prices.

It is also said that, in the first quarter of the current year, the business expenditures are around RSD 20 billion lower than planned, of which the costs of the import of coal alone are lower by RSD 8.4 billion.

– The procurement of gas cost RSD 3.4 billion less, RSD 1.5 billion less was spent on the procurement of liquefied fuels, and around 1.4 billion less was spent on EMS services, whereas the purchase of electrical energy is lower by RSD 0.8 billion. The maintenance costs are RSD 1 billion lower, other business expenditures were RSD 3.7 billion lower than planned for the period from January through March – the press release adds.

The profit of EPS in the first three months of 2023 is the best result in the past five years.

Elektroprivreda Srbije ad Beograd

EMS ad Beograd

EPS

EMS

EPS net profit

EPS losses

EPS business results

production of electrical energy

production of electricity

export of electrical energy

export of electricity

EPS business expenditures

purchase of gas

import of coal