Komunikim- Shtypi

KESH Closes 2018 with Euro 80 mln of Profit

Albanian power corporation KESH has closed 2018 with a profit of about Euro 80 million as a result of the doubling of energy production compared to the previous year, according to performance indicators made public by the company. However, 2017 was one of the most problematic years in terms of the hydro situation. KESH managed to produce only 2,915 GWh while during 2018 the production was 5,851 GWh. Revenues from energy sales amounted to Lek 18.3 billion, up Lek 7.2 billion in 2017. KESH has achieved over the last year to cut its fixed costs by 10%. Total loans decreased by about 50% to Lek 17.5 billion at the end of 2018 from Lek 33.9 billion in 2017. As a result, this is reflected in the interest paid on these loans, the expenditures of which fell by 49%. An effect on the share of loans seems to have been the restructuring made thanks to the first loan installment of Lek 14.5 billion received by the EBRD. 

Source : ATA