April 17, 2014 12:24 PM ET

Electric Utilities

Company Overview of Crnogorski Elektroprenosni Sistem AD

Company Overview

Crnogorski Elektroprenosni Sistem AD engages in the electricity transmission. The company was formerly known as Prenos AD. Crnogorski Elektroprenosni Sistem AD is based in Podgorica, Montenegro.

Bulevar Svetog Petra Cetinjskog 18

Crna Gora

Podgorica,  81 000

Montenegro

Phone:

382 20 407 682

Fax:

382 20 407 665

Key Executives for Crnogorski Elektroprenosni Sistem AD

Crnogorski Elektroprenosni Sistem AD does not have any Key Executives recorded.

Crnogorski Elektroprenosni Sistem AD Key Developments

Crnogorski Elektroprenosni Sistem Reports Earnings Results for the Year 2013

Crnogorski Elektroprenosni Sistem reported earnings results for the year 2013. For the year, the company’s net profit plunged to EUR 2.6 million from EUR 6.5 million a year earlier. Operating revenue fell to EUR 26.6 million from EUR 29.2 million a year ago.

Crnogorski Elektroprenosni Sistem Reports Earnings Results for the Year 2013; Provides Earnings Guidance for the Year 2014

Crnogorski Elektroprenosni Sistem reported earnings results for the year 2013. The company ended 2013 with a net profit of EUR 2.7 million. For the year 2014, the company targets a net profit of EUR 7.2 million.

Crnogorski Elektroprenosni Sistem to Invest EUR 20 Million in Power Link to Italy in 2014

Crnogorski Elektroprenosni Sistem (CGES) will invest EUR 20 million ($27.5 million) this year in the construction of a subsea power link to Italy. CGES will contribute over 100 million euro to the project in total, or 20% of the total investment required to build the subsea power cable. The project is being implemented jointly with the Italian partner, electricity transmission system operator Terna, which owns 22% of CGES. CGES will finance the project with loans provided by Germany's KfW Bank and the European Bank for Reconstruction and Development (EBRD).

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