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PannErgy: Better Than Expected Q1 Results

D&T
April 16, 2025

PannErgy sold 670,000 gigajoules (GJ) of heat in the first quarter, 2.6% ahead of plan and 3.8% ahead of last year's first quarter, the company said in a production report published on the Budapest Stock Exchange (BSE) website on Wednesday.

A summary by MTI says the geothermal system in Miskolc sold a record 328,000 GJ of thermal energy in the first quarter, significantly exceeding the same period last year and 20.3% higher than the same period last year. The primary reason for the increase is the output of the new third generation well, which will be launched at the end of 2024, PannErgy said.

Due to temporary technical reasons, the Győr geothermal system sold 332,000 GJ of thermal energy in the first quarter, slightly less than the average, and thus below the same period of the previous year and 8.6% below the same period last year.

D&T

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