The five-year term of office of the management board of GEN-I d.o.o. ended on 17 November. Since the owners have not yet managed to decide on the management of the company for the next five years, the members of the management board of GEN-I d.o.o. will be appointed by the court until a decision is made by the owners.
Until the court appoints a temporary management board or until the owners come to an agreement, GEN-I d.o.o. will execute all business processes and sign any and all documents by proxies. Heads of operations were authorised to sign most of the transactions related to current operations until the appointment of a new management board, thus enabling the extremely successful business operations executed in 2021 to continue during this transitional period.
The first ten months of 2021 were record-breaking for the GEN-I Group that managed to realise EUR 2.5 billion in revenue, generate EUR 70.9 million in operating profit (EBIT) as well as EUR 57.5 million in net income, thus exceeding the planned net income for the entire 2021 by EUR 40.6 million. The exceeded profitability also has a positive influence on ROE which amounts to over 43 per cent in the aforementioned period, thus exceeding the profitability required by the State capital investment manager (SDH d.d.) by approximately 33 percentage points.
In the future, all ongoing processes and activities of the GEN-I Group will continue to run smoothly since we responded to the current situation in a timely manner and adapted our operations accordingly.
In the future, we will continue to use our innovative approaches to contribute to the development of the international energy market in order to benefit our consumers, employees and society as a whole. Through our own example, we will continue in our role as the leading promoter of the green transformation and a carbon-free future.