Bosnian Hydro Power Complex Vrbas 9-mo Gross Profit Falls 42.8%

Bosnian hydro power complex Vrbas posted a 42.8% drop in its nine-month gross profit to 2.1 million marka ($1.59 million/1.07 million euro), as revenue remained little changed while costs rose.

Following are details from the company's financial statement filed last week with the Banja Luka Stock Exchange, where it is listed (in millions of Bosnian marka):

The company’s net operating assets totalled 251.1 million marka at the end of September, up from 249.2 million marka nine months earlier.

Hidroelektrane na Vrbasu (www.henavrbasu.com) comprises three hydropower plants on the river Vrbas in the western part of the Serb Republic, which together with the Muslim-Croat Federation forms post-war Bosnia.

With an average annual production of 307.5 gigawatt hours of electricity, it is one of the three big hydropower plant groups in the Serb Republic. The other two groups are located along the Trebisnjica and Drina rivers.

(1 euro=1.95583 Bosnian marka)

Choose your newsletter by Renewables Now. Join for free!