Slovak Power Company Reports Billion-Euro Profit Despite Expectations of Decline

Slovenské elektrárne, Slovakia's state-owned electricity company, achieved another billion-euro profit in 2023 despite management expectations that earnings would decline after two exceptionally successful years. The company reached record profits through cheaper borrowing costs and the launch of a new reactor block at the Mochovce nuclear power plant. The utility also successfully addressed its debt problems, with shareholders' equity doubling as the difference between assets and liabilities improved significantly. Over the past two years combined, Slovenské elektrárne has earned 1.4 billion euros in profits. Company management had anticipated a modest decline in earnings as electricity prices normalized from the exceptionally high levels seen following recent market disruptions, but the strong performance continued nonetheless.