Slovenia's HSE Group 2011 cons net profit falls 32%

Slovenian state-owned power conglomerate Holding Slovenske Elektrarne (HSE) said its consolidated net profit fell 32% to 69.8 million euro ($86 million) in 2011.

The group's net sales revenue rose to 1.3 billion euro in 2011 from 914 million euro a year earlier, while overall revenue increased to 1.4 billion euro from 964 million euro in 2010, HSE's annual report indicated.

HSE Group's earnings before interest, taxes, depreciation and amortization (EBITDA) fell 12% to 189 million euro in 2011.

HSE Group (www.hse.si), which is Slovenia's largest power producer and trader, has companies, branches and representative offices in Croatia, Serbia, Italy, Hungary, Bulgaria, Bosnia and Herzegovina, the Czech Republic, Slovakia, Romania and Macedonia.

($=0.8123 euro)

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