Energy group Alexela's annual profits and turnover for 2022 were almost double that of a year before.
According to Alexela's annual report, in 2022 the company generated revenues of more than €620 million. The year before, turnover was around €368 million, meaning AS Alexela managed to increase its turnover by almost 70 percent.
The company's profits also increased in the same period, from just over €8.3 million in 2021 to €14.6 million last year. Thus, Alexela's profits increased by around 75 percent on year.
The company explained the increase in profits as mainly resulting from the rise in number of its electricity customers, and partly due as a result of the national universal service.
"The market is turbulent and the general price increases have exceeded the consumers' tolerance limit," said Marti Hääl, chair of Alexela's board. Hääl explained, that the energy crisis hit both private individuals and companies hard, and also forced Alexela to readjust in order to continue to implement their long-term strategies.
Editor: Michael Cole