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May 27, 2018 12:00 am | FILED UNDER: business

Veolia Energie Profits Skyrocket Over Kc1 Billion

By ČTK Veolia Energie

Ostrava, North Moravia, May 27 (CTK) – Veolia Energie CR, a leading Czech producer and supplier of heat and electricity, almost tripled its profit to Kc1.02bn in 2017 in annual comparison, while its sales dropped by 3.9 percent to Kc7.25bn, the company said in its annual report.

 

Last year was successful, according to the company’s board chairman Phillippe Guitard, and deputy chairman of the board and company’s head Josef Novak.

 

Veolia Energie produced 24,083 terajoules of thermal energy last year, which is less annually, however, sales of heat, its main commodity, increased, company representatives said.

 

The 2016 results were impacted mainly by OKD black-coal mining company being insolvent, as it is one of the largest trading partners of the company. Veolia Energy’s profit was Kc1.3bn in 2015.

 

Heat sales rose by 202 terajoules to 11,893 terajoules in 2017. The mild rise in heat supplies was aided mainly by weather conditions, and gaining new customers, the company leadership said.

 

Revenues from sales of heat and related products went up by Kc36m to Kc5.076bn year on year.

 

In 2017, the company sold 2,175 gigawatt hours of electrical energy, down by some 7 percent annually.

 

Revenues from electricity sales dropped yr/yr by Kc339m to Kc2.061bn.

 

The company’s output in cooling services exceeded 15,000 megawatt hours, generating Kc35m sales revenues, which is roughly the same yr/yr.

 

Veolia’s main fuel is black coal. However, the company is increasing the use of biomass, and last year, it consumed 88,000 tonnes of biomass, generating 28 gigawatt hours of electricity and 342 terajoules of heat, Guitard and Novak said.

 

In the future, the company plans to build a multi-fuel boiler worth over Kc1bn in the Karvina heating plant, with the boiler, first of its kind in the Czech Republic, being able to burn biomass, coal and refuse-derived fuel.

 

Last year, the company invested Kc885.3m, nearly double the 2016 amount, and a significant part was used in projects reducing emissions.

 

Apart from Veolia Energie CR, the group includes Veolia Energie Praha, Veolia Energie Kolin, Veolia Energie Marianske Lazne, OLTERM & TD Olomouc, and Veolia Prumyslove sluzby CR. The company has some 1,600 employees.

 

The group made a consolidated profit of Kc1.15bn last year, being in a Kc70.8m loss a year before that. Its revenues rose annually by Kc296.5m to Kc11.55bn.

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