The company Holding Slovenske elektrarne transferred one hundred million euros to the state as part of the reimbursement of the capital increase from December last year. According to the current business assessment, the HSE will return 242 million euros out of a total of 492 million euros this year.
“The provision of the necessary financial resources to the HSE group this year shows positive results, which is why the Slovenian State Holding (SDH) on Monday adopted a decision on the return of the first part of funds from subsequent capital payments,” SDH announced.
The HSE explained that the company’s management remedied the liquidity problems that plagued them last year due to the loss of own production and a sharp rise in prices due to the Russian invasion of Ukraine. “HSE’s business is good this year, electricity production is uninterrupted and reliable and even exceeds the set plans,” they guarantee.
“We estimate that this year’s operations of the HSE Group will be significantly better than last year’s, if there are no major upheavals, even one of the best in the history of the HSE Group,” emphasized the general manager Tomaž Štokelj.
The entire amount is expected to be repaid by the end of 2024
SDH, which in December 2022 approved a subsequent capital payment to HSE to bridge extraordinary liquidity situations in the amount of EUR 492 million, obliged the company to return the first part of these funds at the end of February this year, whereby the dynamics of the repayments will depend on business circumstances and conditions on the energy markets .
Stokelj is satisfied that they justified the trust of the owner. “The decision to help us financially bridge the situation in which we found ourselves last year due to external circumstances proved to be justified. Last but not least, the HSE group is the largest producer of electricity in Slovenia and a pillar of reliable supply of electricity to the economy and households,” emphasized the first man of Holding Slovenska elektrarna.
On Monday, SDH also adopted a decision to announce the return of an additional 42 million euros. “Taking into account the future market conditions and the performance of the HSE Group, SSH will continue to pursue the goal of returning the entire amount of subsequent capital payments to the founder by the end of 2024,SDH also wrote in a press release.
In the HSE, they also wrote that the group is starting a large-scale investment cycle for the country’s green transition. “All our plans are aimed at the development of the HSE group and investments into renewable energy sources,Štokelj added.