Economy

Ethiopian Electric Power’s Annual Loss Surges Twelvefold

BirrMetrics · 9 hours ago · Read the Full Story on BirrMetrics

AI SUMMARY

Ethiopian Electric Power recorded a net loss of 122.08 billion birr for the financial year ending 7 July 2025, driven by soaring foreign exchange losses and financing costs despite higher revenues.

Ethiopian Electric Power recorded a net loss of 122.08 billion birr in the financial year ending 7 July 2025, up from 10.15 billion birr a year earlier.
Electricity sales and related services revenue rose to 72.71 billion birr from 27.14 billion birr, an increase of nearly 168 percent.
Net foreign exchange losses on borrowings and cash equivalents reached 290.51 billion birr, compared with 3.95 billion birr the previous year.
Total finance costs reached 310.01 billion birr, compared with 25.23 billion birr in the previous financial year.
Operating profit rose to 187.93 billion birr from 15.09 billion birr, significantly influenced by exchange rate gains.
Total debt from borrowings rose to 292.80 billion birr from 104.01 billion birr, with 287.77 billion birr representing loans from foreign lending institutions and development agencies.
Total liabilities more than doubled to 352.65 billion birr, while total equity declined to 473.14 billion birr.
Accumulated losses reached 309.21 billion birr, compared with 187.13 billion birr a year earlier.
Total assets increased to 825.79 billion birr from 709.75 billion birr, with property, plant, and equipment accounting for 770.06 billion birr.
Audit Service Corporation issued an unmodified audit opinion on the financial statements, which were authorised for issuance on 2 January 2026.

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