Essent books net profit up 11% in 2008
Holland’s largest energy concern Essent on Thursday announced an 11% increase in net profit to €887m in 2008 and a 22% rise in turnover to €9bn.
‘With this result and with the achievement of the desired and necessary economy of scale from [our merger with] RWE we have created a strong basis for the future,’ says Essent CEO Michel Boersma in a statement.
German energy firm RWE agreed to takeover Essent for 9.3 billion euros last month.
Further, Essent reports that its green power generation went up 24% to 1.7 TWh which accounts for 40% of all Dutch renewable production.
Although the credit crisis could lead to lower sales volumes to industrial customers, Essent says it expects an increase in net profit in 2009.
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