EPS generated loss of RSD 10,5 billion in 2014

(Photo: Aleksandar Parezanović)

The Electric Power Industry of Serbia (EPS) generated last year net loss of 10,5 billion ( EUR 87,4 m) after generating a year before profit of RSD 19,3 billion, company financial report data shows.

Last year, EPS in May suffered great flood damage which halted the operations of electric plants, pit mines resulting in coal and electricity import. Consolidated business profit fell to 212,5 billion dinars from 215,7 billion dinars generated a year before while business expenditures jumped by 3,2% to RSD 188,95 billion.

In July this year, the company announced it completed the first stage of reorganization and that now it functions through three instead of 14 legal entities - EPS Distribucija, EPS Snabdevanje and production unit EPS.