Municipal central heating plant Teplaren Kosice (TEKO), a.s. posted total revenues of SKK 2.611 billion (EUR 86.67 million) last year, which is a drop of almost 17 percent y/y. The costs totaled SKK 2.487 billion (EUR 82.55 million), down 15 percent y/y. The company generated added value of SKK 749.5 million (EUR 24.88 million), which is an increase of 40 percent.
The taxed profit amounted to SKK 123.647 million (EUR 4.104 million), which SKK 78 million (EUR 2.589 million) less than a year ago. The sole shareholder in the company, the government privatization company the FNM decided that SKK 70 million (EUR 2.324 million) of the profit will be paid out in dividends. Employees' share from last year's profit represents SKK 17.417 million (EUR 578,100). More than SKK 9 million (EUR 298,000) was left unappropriated in the company.
Total assets of the company stood at SKK 2.874 billion (EUR 95.4 million) at the end of last year. Of this, fixed assets accounted for SKK 1.621 billion (EUR 53.81 million). Shareholders' equity covered company's assets at SKK 1.519 billion (EUR 50.42 million). Liabilities amounted to SKK 1.095 billion (EUR 36.35 million). The company had 619 people on its payroll.
TEKO was spun-off from power producer Slovenske Elektrarne in January 2002. The company is involved in the purchase and distribution of heat and electricity. It is one of the six central heating plants originally intended for privatization. However, the privatization of heating plants in Bratislava, Trnava, Zvolen, Zilina, Martin and Kosice was halted ahead of the early parliamentary elections in 2006.