Estonia: Alexela’s revenue up 70%, profit up 75% in 2022

Estonian energy group Alexela reported revenue of more than EUR 620mn in 2022, which was up almost 70% from around EUR 368mn in 2021, ERR reports. The group’s annual profit amounted to EUR 14.6mn, which was up 75% from EUR 8.3mn a year earlier. Alexela attributed the rise in profit to an increase in the number of electricity customers and the regulated universal service. Board chairman Marti Hääl said that the energy crisis hit both private individuals and companies hard, and forced Alexela to readjust to continue implementing its long-term strategy.