Net profit of the Electric Power Company of Montenegro, EPCG, in the first quarter of the year reached about €31m, said its chief financial officer, Branislav Pejović.
In his interview with Mina news agency, Pejović explained that positive results are consequences of operational readiness and stable functioning of all facilities. Pejovic also added the EPCG’s total revenues in first three months amounted to €91.7m, which is by 14.3% than initially planned and by 32% higher compared to the same period last year.
“The company’s earnings before interest expenses, taxes, depreciation and amortization are subtracted in the first quarter amounted to €34.8m and they are by 46.9% higher than planned,” Pejovic explained in detail.
Commenting on announced investments, Pejovic added that the EPCG has already started with them, with a plan to implement projects worth over €170m.
“We have already started with several serious projects, such as the ecological reconstruction of the First Block of the Thermal Power Plant (TPP) in Pljevlja, along with the reclamation of existing slag&ashes landfills.”
According to him, projects related to reconstruction and modernization of the two large hydroelectric power plants are of crucial importance. “Envisaged funds for these investments are nearly €40m,” said Pejović.
