Home » Business » Latvenergo has entered into short-term loan agreements for 90 million euros – Branches – Financenet

Latvenergo has entered into short-term loan agreements for 90 million euros – Branches – Financenet

Latvenergo has entered into a short-term loan agreement with the Latvian branch of OP Corporate Bank plc in the amount of EUR 60 million, and with SEB banka in the amount of EUR 30 million. Both contracts have a term of up to two years.

Procurement organized for concluding short-term loan agreements.

The company’s representatives also note that Latvenergo’s capital raising is planned and regular, providing timely financing for both capital investments and liquidity management.

It has already been reported that the turnover of the Latvenergo Group in the first nine months of 2021 was 659.543 million euros, which is 16.9% more than in the corresponding period of the previous year, while the group’s profit decreased 3.6 times to 26.403 million euros.

In 2020, the audited turnover of the Latvenergo Group was 773.391 million euros, which is 8.1% less than a year earlier, but the Group’s profit increased by 23.3% to 116.309 million euros. At the same time, the turnover of the Group’s parent company Latvenergo decreased by 11.9% and amounted to 385.612 million euros, while the company’s profit increased by 53% to 154.848 million euros.

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