The capital increase proposal of Alföldivíz Zrt. was rejected by the local governments

Alföldvíz Zrt. forecasts a loss of more than 1.7 billion HUF for this year. The local government owned company wanted to resolve this year by raising its equity capital, but the local governments interviewed by MTI rejected the request.

As Alföldvíz Zrt. wrote in a letter sent to local governments in mid-December last year that this year, in addition to the expected loss of 527 million HUF in 2019, the effect of wage increases (raising personal expenses by 986 million HUF), the increase in the price of electricity represents an additional cost of 200 million HUF. (MTI)