The state-owned power board HEP will pay 60 percent of its last year's profit into the state budget, amounting to 218.4 million kuna (€29.6 million), the company's shareholders agreed in their general assembly held on Tuesday.

The decision on the payment of a large share of its profit was in accordance with a government directive which says that state-owned companies of strategic and specific importance are obliged to transfer at least 60 percent of their net profit into the state budget.

In 2017, HEP’s net profit totalled 364 million kuna (€49.3 million).

(€1 = 7.38 kuna)

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