The Slovenia Times

Deep 2020 loss for Slovenian energy sector


Ljubljana - The Slovenian energy sector posted a net loss of EUR 277.5 million at the end of last year, compared to a EUR 303.6 million profit in the year before. This is the worst result since 2015, shows a report by the Energy Chamber.

The performance of the Šoštanj Thermal Power Plant (TEŠ) and its parent company, the power utility HSE, were the main cause of the loss.

The year was also profoundly marked by the Covid-19 pandemic, which affected mostly the sales of petroleum products.

Energy companies generated EUR 11.7 billion in sales revenue last year, down 14% compared to 2019. Net sales revenue was down 15% to EUR 11.3 billion.

In 2020, EUR 1.4 billion in added value was generated, which is 2.4% more than in 2019; in the last five years, added value grew by 3.8% a year on average.

Added value per employee rose by almost 2% to EUR 116,000 while the number of staff increased by 0.6%.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) in the energy sector were up by 2% to a record high of EUR 842.4 million.

The EBITDA margin, hit a ten-year low of 5.4% in 2018%, was up in 2019 and 2020. Last year it was at 7.3%.

The companies' liquidity remained high while relative indebtedness fell to its lowest level since 2012, at 2.2 times EBITDA.

The total energy output was 4.6% higher than in 2019, at 154,575 terajoules. Domestic sources provided for 55% of the country's energy needs and energy dependence dropped by 7 percentage points to 44.5% mainly due to lower imports of oil products and higher domestic energy production.


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