The GEN-I Group exceeded all plans in 2019 and in the context of record electricity sales of 83.4 TWh, recorded an 18.4% increase in profit, which amounted to more than €15 million. With sales reaching €2.2 billion, the Group improved its financial position significantly and reduced its debt by 27%. Excellent results continue in 2020, an indication that the Group was well-prepared for the current economic crisis as the result of the extraordinary situation, and continues to grow in all areas. The extraordinary results achieved to date in 2020 are the reason for the recruitment of 50 new co-workers in a time when most companies are gazing with concern into the future.
The President of the Management Board Dr. Robert Golob commented, “The GEN-I Group is undoubtedly one of the fastest growing, most progressive and innovative players on the European energy market. For the third consecutive year, we generated more than €2.2 billion in revenues, while net profit exceeded €15 million for the first time in the Group’s history. In that context, we increased the number of employees by 25%, while reducing net debt to less than half of EBITDA. Our success story is based on the efforts of all employees to achieve the green vision of the Group’s development, but above all on respect for common values.”
In the face of the coronavirus epidemic, the Group reacted swiftly and decisively, and adapted the entire work process to teleworking. Extensive investments in the digitalization of operations in previous years made it possible for the GEN-I Group to neutralize the effects of the COVID-19 health crisis in full. By responding quickly to changes on the global energy market, the Group has offered its customers lower prices and increased its market share during this period.
“The crisis has hit the energy sector hard, rocked markets and changed energy flows. We have overcome all of that with a superior team that responded prudently and in a timely manner to those changes. We were the first electricity supplier in Slovenia to cut prices during a time when numerous households and small business found themselves facing hardship. We also called on other business leaders to join our initiative, as we believe that now is the time for solidarity and not for generating profits,” emphasized Dr. Golob.
The experiences gained during this period have further confirmed that our focus on the green and digital transformation of the Company and society as a whole is the right choice. The GEN-I Group will therefore continue with accelerated investments in green digital technologies and the intensive employment of new workers in those areas. To that end, the Group published an extensive call for applicants to fill 50 new positions with the aim of achieving its Vision 2030.
“The changes we are witnessing due to the COVID-19 epidemic will penetrate deeply into our habits and behavior. The digitalization of everything and sustainable self-sufficient supply are undoubtedly trends that are crucial for the future of our company. For that reason, we will further increase investments in the development of new solutions for a green transformation, and are therefore searching for new co-workers who share our visions of the future,” explained Dr. Golob.