Estonia, Markets and Companies

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 11:33

H1 revenue of Alexela Group drops to EUR 94.3 mln

BC,Tallinn, 26.07.2016.Print version
The Estonian energy, metal industry and property development holding Alexela Group saw its revenue decline from 104.8 mln to 94.3 mln euros on year in the first six months of the year, while its operating profit remained at 4.9 mln euros,writes LETA/BNS.

According to Alexela Group CEO Andreas Laane, the whole group is focusing on reducing costs. "In connection with the low global market price of oil we have reduced our personnel by about 7%, mainly raising the manufacturing efficiency of Kivioli Keemiatoostus," Laane said in a press release.


According to Laane, the rising fuel excise duty has had a significant impact on Alexela's fuel sales as the company's business customers have started using the filling stations in Latvia and Lithuania. As a result Alexela's diesel wholesales have declined by around 15%, he added.

The revenue of Alexela Oil was 60 mln euros and the company had 70 filling stations in the first half of the year.


Alexela Energia sold nearly 178 mln kilowatt-hours of electricity during the period. The company's sales totaled nearly 10 mln euros and its market share remained at 4% which made it the biggest electricity seller based on private capital.


In the second half of the year, Alexela Group will continue to focus on cutting costs.

Alexela Group operates in three fields: energetics, the metallurgical industry and real estate development. The company has a workforce of nearly 1,000.

 






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