ALTEO’s EBITDA grows again in the second quarter despite the declining energy price environment

Despite a moderating energy price environment, ALTEO managed to maintain its profitability in the first half of the year at a higher level than before the energy price boom of 2022, and even increased its EBITDA on a quarterly basis. The management of the company, listed in the premium category of the Budapest Stock Exchange (BSE), is positive about the results of its individual business units, highlighting the dynamics of the waste management division.

In the first six months of this year, ALTEO achieved more than one and a half times the result of the first half of 2021, the last year before the price explosion. The consolidated EBITDA of HUF 9.8 billion is less than the record achieved in the first half of 2023, but the EBITDA of HUF 5.3 billion in the second quarter of this year is 9% higher than the previous year. The consolidated net profit of HUF 5.8 billion is HUF 3 billion less than the one achieved in the first half of 2023.

Looking at the performance of the business divisions in the first half of the year, it is worth highlighting the waste management segment, which achieved significant growth at the EBITDA level. The company continued active investments as set out in its strategy, the highlight of which is a HUF 28 billion multi-site energy storage development project.