The MVM Group Closed a Successful Year

The MVM Group has successfully introduced its new medium-term strategy; consequently, the Group has closed another successful year, which generated a sales revenue of HUF 1,034.149 billion in 2016. This was associated with an EBITDA of HUF 110.782 billion, which exceeds the amount achieved in the previous year by HUF 3.263 billion.

‘The year 2016 is a milestone in several respects; on the basis of our new strategy, we opened up to new areas, are increasingly active in renewable energy generation, and seek a significant market position also in the field of e-mobility. Our increased international activities are now supported by three foreign representative offices,’ said Péter Csiba. The Chairman and CEO of MVM Hungarian Electricity Ltd. added: ‘It is a huge step for our strategy that we have acquired a 50% stake in ENKSZ Első Nemzeti Közműszolgáltató Zrt., which gives us the opportunity to come in direct contact with residential consumers. Having achieved another output record, the Paks Nuclear Power Plant continues to be key to our sustainable energy generation and effectiveness.’

The MVM Group’s profit after tax amounted to HUF 48.426 billion in 2016.

‘Last year we clearly increased our competitiveness, while the Group paid more than HUF 130 billion in total to the Hungarian state budget in various taxes and fees,’ emphasised András Huszár, Deputy CEO for Business of MVM Hungarian Electricity Ltd.