ALTEO Plc. - Diplomacy & Trade

Alteo Launches HUF 7.5 Billion Bond Issue

D&T — Mon, 10 Oct 2022 17:28:00 +0000

Alteo Energiaszolgáltató [Energy Service Provider] Plc. is launching a HUF 7.5 billion bond issue under its previously announced bond program; the funds raised will be used mainly to finance investments in energy projects, to achieve growth targets, for working capital needs and to build up reserves, the company announced on the Budapest Stock Exchange (BSE) […]

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ALTEO Acquires Solar Power Company

D&T — Wed, 20 Jul 2022 21:13:00 +0000

The Hungarian energy company ALTEO Plc. has announced on the website of the Budapest Stock Exchange that as buyer, it has concluded a quota purchase agreement for the acquisition of the registered capital representing the entirety of the business interest in EDELYN SOLAR Ltd. (‘target company’) amounting to forints HUF 3,000,000 (three million) from individuals, […]

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Favorable Credit Rating for ALTEO Confirmed

D&T — Thu, 29 Jul 2021 08:58:00 +0000

Scope Ratings GmbH has confirmed the BB+/Stable issuer credit rating on the the Hungarian energy services provider company ALTEO Plc. along with its BBB- long-term senior unsecured debt rating and S-3 short-term debt rating which is four grade higher than the minimum level expected by the National Bank of Hungary (MNB). As it has been […]

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Outstanding First Quarter Results at ALTEO

D&T — Mon, 17 May 2021 08:38:00 +0000

In the Management’s opinion, Q1 2021 results have massively confirmed ALTEO’s strategy along with the successful investment projects of the recent period. As results for 2020 also showed, the COVID pandemic still has only moderate impact on ALTEO’s profitability compared to other, more pro-cyclical sectors, thanks in part to the protective measures put in place […]

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Hungarians Concerned about the Future of the Planet

D&T — Sat, 10 Apr 2021 14:23:00 +0000

There are almost no Hungarians who would not be preoccupied with the future of the planet, and a resident can list an average of 12 environmental factors, according to a national, representative survey commissioned by the ALTEO Group. Although different demographic groups differ on the significance of each of these, 80% agree on one thing: […]

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Old Hydro Plant Renovated by ALTEO

D&T — Mon, 14 Dec 2020 15:10:27 +0000

ALTEO Plc. has completed the renovation of the Gibárt Hydroelectric Power Plant, which has been operating as a monument for more than 100 years, in order to ensure the further long-term, reliable and economical operation of the power plant. The company renovated and modernized the power plant with an investment of HUF 1.2 billion, during […]

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Alteo Doing Well Despite the Pandemic

D&T — Mon, 16 Nov 2020 11:20:10 +0000

Despite the pandemic,the Hungarian energy service provider firm ALTEO continued to grow, reaching sales of nearly HUF 5.5 billion in the 3rd quarter of 2020. A quarterly report by the company says that since a significant portion of the profitability of ALTEO’s activities is less vulnerable to changes in the economic cycle, the principal focus […]

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ALTEO Reports Significant Growth of Revenues

D&T — Mon, 31 Aug 2020 10:21:00 +0000

In the first half 2020, both the revenue and net after-tax profit increased significantly at the Hungarian energy company ALTEO Group. The 33% increase in sales revenue was accompanied by a 120% rise in after-tax profit. A report by the Group says the growth achieved not only reflects the success in investment and acquisition activities, […]

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ALTEO Buys Wind Power Generation Firm

D&T — Tue, 18 Aug 2020 20:47:00 +0000

Hungarian-owned energy service and trading company ALTEO Plc. has concluded a stock purchase agreement for the acquisition of Pannon Wind Power Generator Ltd. for HUF 1,153,000,000 from EIH Ltd. The execution of the stock purchase agreement is the first step in the transaction. The ownership of the business interest in Pannon Ltd. will be transferred […]

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