Djukanovic: EPCG makes an all-time high profit

According to Chairman of the Board of Directors of Elektroprivreda (EPCG) Milutin Djukanovic, the company finished last year with its best-ever financial result, making a profit ranging between €70 million and €80 million.

At a press conference organized to present last year’s performance and prospects for the current year, he highlighted the need to stabilize the operations of Solar Gradnja and EPCG Ironworks.

As reported by RTCG portal, Djukanovic mentioned that a public competition for the lease of the Steel Mill and Forge was under way, stating that the interest of investors was substantial.

He revealed that EPCG had around €58.9 million in its accounts at the end of last year.

“That amount does not include around €16 million from electricity exports in December. Therefore, we can confidently state that EPCG’s balance as at 31 December is around €75 million,” said Djukanovic.

He added that electricity output had hit a record high last year, surpassing the plan by 15 percent.

“As at 31 December, our accumulations had a surplus of 80,000 megawatt-hours (MWh). If translated into money, that would be an additional €8 million,” specified Djukanovic.