SPP earnings up Sk1.5 billion

RECENTLY privatised gas giant Slovenský plynárenský priemysel (SPP) announced non-audited gross earnings of Sk5.9 billion on Sk73.6 billion in revenues for 2001. This is an increase in gross profits of Sk1.5 billion and an increase in revenue of Sk3.8 billion over 2000 results.

Expenditures saw a year-on-year increase of Sk2.3 billion to Sk67.7 billion. Operating costs accounted for Sk61.2 billion, a Sk4.6 billion increase from 2000. Financial costs dropped by Sk2.2 billion year-on-year to Sk6.4 billion.

The sale of 49 per cent of SPP, approved by the cabinet on March 14, is the biggest privatisation deal in Slovakia's history, and one of the biggest since 1989 in central Europe. A consortium made up of Gaz de France, the German Ruhrgas and Russian Gazprom won the tender with a bid of $2.7 billion.

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