The GEN-I Group set record after record in 2020. We sold a record 142.9 terawatt hours of energy and generated a gross profit of more than €74 million for the first time in our history. For the fourth consecutive year, we generated more than €2 billion in revenues and for the second consecutive year our net profit exceeded €15 million. By significantly increasing investments in employees, digitalization and the development of green products we laid solid foundations for the green future.
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At GEN-I Group, we are aware of the responsibility we have to the planet. Our second Sustainability Report is a mirror of our values, work and efforts for a carbon neutral society. With solar power plants we set up for individual self-consumption in energy by the end of 2020, we have reduced the carbon footprint by more than 15 million kg. We have halved our own compared to 2019. Leading by example will continue to be our main signpost on the road to a green future.
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The GEN-I Group performed well once again during the previous business year, when net profit exceeded €15 million for the first time and we sold a record 83.4 TWh of electricity. For the third year in a row, we generated more the €2.2. billion in revenues and recorded return-on-equity in excess of 16%. In the context of growth in operations, cash flow and gross margin, we further improved GEN-I’s financial position, and generated value for owners and solidified the trust of the financial markets by reducing debt and strengthening capital.
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In our first sustainability report, we present the most important components that contribute both collectively and individually to specific social, environmental and economic effects. Through them, GEN-I is writing a new chapter in the wide-ranging story about the green transformation and carbon-neutral society.
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