MVM Group's Profit Decreased Last Year

MVM Group's profit fell by 12% year-on-year to HUF 324 billion last year, the company, which is a dominant player on the electricity market in Hungary, told MTI on Wednesday.

Turnover fell by almost the same amount to HUF 4,534 billion by the end of 2024. The decline was attributed to the impact of energy markets recovering from the global energy crisis, but operating expenses also fell. Subsidiaries operating in international markets contributed significantly to the group's results, they said.

MVM is pleased with last year's performance despite the downturn, as profits stabilized at a high level, ensuring sustainable growth and predictable operations. They also consider it a major achievement that significant steps have been taken towards becoming a major regional player and that renewable energy generation capacity has been increased.

Customer service has been modernized and the preparations for the extension of the Paks nuclear power plant and the construction of new gas turbine power plants have continued.

The group will continue to pursue stable and conservative financial management, as MVM's success is a guarantee of security of supply. The implementation of growth plans will ensure that the company can be a predictable partner for both domestic and regional customers, they added.