Energocom state-owned company will allocate 50% of the net profit for 2020 to pay dividends and will increase its authorized capital 10 times - up to 1 million lei.
The corresponding decision was adopted during the annual general meeting of Energocom shareholders, which also approved the priority areas of Energocom's activities - a business plan for 2021-2023 and elected new members of the Society's Management Board (Lilian Cristiuc, Viorica Bejan, Oleg Filimon, Mihai Botnari, and Andrei Balan). The meeting approved Energocom's 2020 annual financial report and the company's Board and Audit Commission's annual reports for the past year. The shareholders approved the procedure for the distribution of net profit for 2020, deciding to allocate 50% for the payment of dividends, and also approved the norms for the distribution of profit, which is expected to be received in 2021.They also approved an increase in the amount of the authorized capital of the company from equity capital to 1 million lei by increase in the par value of placed shares. In addition, the shareholders approved a new version of the company's charter. As InfoMarket reported earlier, Energocom's net profit in 2020, compared to 2019, decreased by 16.4% and amounted to 24.47 million lei against 29.28 million lei a year earlier. According to the published annual financial statements of the company, in particular, last year its sales revenue decreased by 10.1% - from 4 billion 470.84 million lei in 2019 to 4 billion 019.76 million lei in 2020, and the cost of sales decreased by 10.5% - from 4 billion 430.97 million to 3 billion 965.58 million lei. The administrative expenses of the enterprise in 2020 amounted to 12 million 556.8 thousand lei against 12 million 635.04 thousand lei a year earlier. Energocom’s total assets increased by 3.2% over the year - from 376.66 million lei in 2019 to 388.66 million lei. The authorized capital of the company is 100 thousand lei. The company is 100% owned by the state. Energocom is a central electricity supplier. The company ensures the supply of electricity at unregulated tariffs for the needs of the domestic market. // 03.06.2021 - InfoMarket.
