Stoen multiplies its profits
The company's total revenue in 2004 was zł.1.63 billion, less than the 2003 figure of zł.1.65 billion. Harry Schur, the president of the management board, says: "This resulted from lower re-wholesale of electricity, due to our improved planning of electricity purchase and new limits on the purchase of energy produced in association with heat, set by the Ministry of Economic Affairs and Labor."
However, net profit surged from zł.37 million in 2003 to zł.133 million last year. The firm also gained 12,000 new customers, increasing its client base to 820,000. According to its annual report, Stoen has a 5.8 percent share of Poland's energy distribution market.
Last year, Stoen earmarked zł.100 million for investments. The most important investment was in the Scada Ex Central System, which supports the supervision of the Warsaw energy network. A new power distribution outlet was also financed and funds were invested in modernizing IT and implementing an SAP system. In 2005, the company plans to further invest in IT and grid development.
M.P.
However, net profit surged from zł.37 million in 2003 to zł.133 million last year. The firm also gained 12,000 new customers, increasing its client base to 820,000. According to its annual report, Stoen has a 5.8 percent share of Poland's energy distribution market.
Last year, Stoen earmarked zł.100 million for investments. The most important investment was in the Scada Ex Central System, which supports the supervision of the Warsaw energy network. A new power distribution outlet was also financed and funds were invested in modernizing IT and implementing an SAP system. In 2005, the company plans to further invest in IT and grid development.
M.P.
