ALTEO Plc.: 15 Years on the Budapest Stock Exchange

Hungarian energy services provider ALTEO Plc. has celebrated its 15th anniversary on the Budapest Stock Exchange (BSE). The company has a portfolio covering almost the entire value chain of the electricity industry and is also a major player in the domestic circular economy. ALTEO's operations are characterized by a commitment to sustainability and value creation, which has been recognized by the stock exchange with several BSE awards in recent years, the company says in a statement.

The Hungarian-owned, modern energy service provider and trading company listed its shares on the Budapest Stock Exchange in October 2010, has been a member of the BSE Premium category since September 2018, and was included in the BUX index basket in 2021. ALTEO is one of the corporate issuers that has contributed to the development of the Hungarian capital market in recent years through several public and private share and bond issues.

The company has been recognized at the BSE almost every year since 2020, including in the categories 'Growth Bond Program Issuers', 'Issuer Transparency Mid-Cap', 'Responsibility, Sustainability, Responsible Corporate Governance', 'Issuer of the Premium Category Security with the Largest Price Increase of the Year', and 'Company Achieving Long-Term Price Increases'.

All of these awards demonstrate the company's capital market transparency, sustainable operations, and the continuous strengthening of investor confidence. The company's commitment to sustainability is demonstrated by the fact that in 2022, it was the first in the Hungarian energy sector to obtain an international ESG certificate based on a voluntary, independent third-party assessment.

The company started out in electricity retail, but now, through investments and acquisitions, it operates and provides services across almost the entire value chain of the electricity industry. It has a diverse and balanced portfolio of renewable and gas-fired power plants and energy storage facilities, manages more than 1 GW of regulatory capacity, and schedules approximately 2 GW of solar power plant capacity using its own digital production management solutions. Through its waste management business, it is one of the most significant players in the domestic circular economy.

The statement points out that ALTEO has experienced dynamic growth over the past 15 years. The company's revenue has increased eighteenfold and its EBITDA forty-sevenfold since its IPO, thanks to the consistent implementation of a strategy based on organic growth and acquisitions.

"When we founded ALTEO in 2008, we were already thinking about going public. We believed that this could be the engine of our growth, the driving force that would not only provide resources for our investments, but also transparency and an incentive for our continuous development. Over the past fifteen years, we have been able to write a real success story, in which our future-oriented thinking, our quick response to changes, our sustainability-based operations, and our constant focus on shareholder value creation have always played a key role," the Chairman and CEO of ALTEO Plc., Attila Chikán Jr. emphasized.

Tibor Tóth, CEO of the Budapest Stock Exchange, is aquoted as saying that "over the past 15 years, ALTEO has set an outstanding example of how to build consciously and consistently on the capital market. The company plays a key role in the BSE community not only as a successful issuer, but also through its commitment to transparent operations and sustainability. We are delighted to congratulate them on their anniversary and wish them continued success in the coming decades."