Energy producer SE suffers 1H99 loss of 3.28 billion crowns

State-owned monopoly power producer Slovenské Elektrárne (SE) made a loss of 3.28 billion Slovak crowns ($79 million) in the first half of 1999, largely as a result of exchange rate losses and financial costs of 5.36 billion crowns.

Despite the loss, the company's 1H99 sales went up slightly from 14.9 billion crowns to 15.44 billion crowns, thanks in part to an increase in regulated electricity prices which took effect on January 1. This development should continue in the second half of 1999 (a second price hike took effect on July 1).

As a result of a weaker Slovak currency in 1999, SE had to create almost 8 billion crowns in reserves against exchange rate losses.

Top stories

Coalition partners announced the agreement.

Anti-Covid measures for Christmas announced in Slovakia

Lockdown continues in another form, shops will open, schools will close earlier than expected.


1 h
Illustrative stock photo

Booster or bust: Foreigners still face vaccine barriers in Slovakia

How to have your Covid vaccine doses received abroad recognised in Slovakia.


4 h
Lockdown in Bratislava

Ministry proposes to start reopening Slovakia for the vaccinated and recovered shortly before Christmas

The Health Ministry came up with three phases, one of which involves a longer lockdown.


6. dec
Skryť Close ad