Hell Energy’s after-tax profit decreased in the first half of the year

By: Trademagazin Date: 2023. 10. 05. 11:09

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The sales revenue of Hell Energy Magyarország Kft., which produces energy and soft drinks, increased only slightly in the first half of this year after the dynamic growth of previous years, while the taxable profit fell due to the significant loss recorded in the financial result line.

According to the consolidated report published on the website of the Budapest Stock Exchange on Monday, the company’s net sales increased by nearly four percent, from HUF 74.296 billion to HUF 77.060 billion, in the first six months of 2023 compared to the same period of the previous year. The reason for slower growth compared to previous years is that consumption in the company’s main markets has fallen. The volume of sales decreased by 14 percent annually, from 739 million units to 632 million units, in the examined period.

The result of the operating activity reached HUF 10.958 billion after an annual increase of 59 percent. In terms of financial results, the HUF 1.839 billion profit achieved in the first half of 2022 turned into a HUF 5.138 billion loss, so the after-tax profit fell from HUF 8.699 billion to HUF 5.301 billion at the end of the first half of the year.

The consolidated balance sheet total of the group increased by 8.2 percent compared to the end of last year to HUF 213.717 billion by the end of June, and equity increased to HUF 55.123 billion after a similar growth rate.