The GEN-I Group set record after record in 2020. For the first time in our history, we generated a gross profit of more than EUR 74 million, which is an increase of 27% compared with an otherwise very successful 2019. For the fourth consecutive year, we generated revenues of more than €2 billion, with net profit exceeding €15 million, similar to the previous year. We sold a record 142.9 terawatt hours of energy, an increase of 71.4% relative to 2019. Capital adequacy and thus the security of the GEN-I Group’s operations have reached their highest levels to date.
We achieved all of this in a year in which the global economic and social environment grappled with the consequences of the COVID-19 pandemic. Through its knowledge, understanding of the market and ability to adapt to changes, the GEN-I Group once again responded excellently to the new challenges. We laid solid foundations for the future and for our Vision 2030 by significantly increasing investments in employees, digitalization and the development of green products.
The operations of the GEN-I Group in 2020 are presented in detail in the 2020 annual report, accessible at this link.