Overview
Ethiopian Electric Utility (EEU) is the monopoly public utility that distributes and sells electricity in Ethiopia, established in October 2013 by Council of Ministers Regulation No. 303/2013 following the split of the Ethiopian Electric Power Corporation into two enterprises. It buys bulk power from Ethiopian Electric Power and supplies industrial, commercial and residential customers through regional distribution units. It is held by Ethiopian Investment Holdings and audited by the Office of the Federal Auditor General's Audit Service Corporation.
Electricity revenue rose to ETB 58.30bn for the year ended 7 July 2025, lifting total income 58% to ETB 64.02bn, while cost of sales rose to ETB 44.32bn and finance costs to ETB 9.27bn. Profit for the year rose 9% to ETB 4.05bn, a net margin of 6%. Total assets nearly doubled to ETB 197.12bn and equity to ETB 146.19bn as paid-up capital rose to ETB 123.57bn.
SourceETB 64.02B
ETB 4.05B
ETB 197.12B
SourceETB 59.97B
Performance
Income statement
| Fiscal year | 2014EC | 2015EC | 2016EC | 2017EC |
|---|---|---|---|---|
| Total Revenue | ETB 26.2B | ETB 33.74B | ETB 40.62B | ETB 64.02B |
| Total Expenses | ETB 23.61B | ETB 31.42B | ETB 36.89B | ETB 59.97B |
| Net Profit | ETB 2.59B | ETB 2.32B | ETB 3.72B | ETB 4.05B |
| Operating Revenue | ETB 23.88B | ETB 31.29B | ETB 33.93B | ETB 58.3B |
| Investment Income | ETB 2.65M | ETB 3.15M | ETB 13.32K | -ETB 3.28M |
| Other Operating Income | ETB 2.32B | ETB 2.45B | ETB 6.69B | ETB 5.72B |
| Cost Of Sales | ETB 18.3B | ETB 26.03B | ETB 29.33B | ETB 44.32B |
| Gross Profit | ETB 5.58B | ETB 5.26B | ETB 4.6B | ETB 13.99B |
| General Admin Expenses | ETB 4.21B | ETB 4.27B | ETB 4.44B | ETB 4.78B |
| Other Operating Expenses | -ETB 179.85M | ETB 1.58M | ETB 5.05M | ETB 5.01M |
| Impairment Allowance | ETB 563.66M | -ETB 442.42M | ETB 799.59M | ETB 1.59B |
| Operating Profit | ETB 3.31B | ETB 3.89B | ETB 6.05B | ETB 13.32B |
| Finance Costs | ETB 720.3M | ETB 1.56B | ETB 2.32B | ETB 9.27B |
| Profit Before Tax | ETB 2.59B | ETB 2.32B | ETB 3.72B | ETB 4.05B |
| Income Tax Expense | ETB 0 | ETB 0 | ETB 0 | ETB 0 |
Balance sheet
| Fiscal year | 2014EC | 2015EC | 2016EC | 2017EC |
|---|---|---|---|---|
| Total Assets | ETB 89.54B | ETB 98.24B | ETB 118.17B | ETB 197.12B |
| Equity | ETB 66.31B | ETB 68.32B | ETB 76.76B | ETB 146.19B |
| Non Current Assets | ETB 48.54B | ETB 51.31B | ETB 64.06B | ETB 101.27B |
| Current Assets | ETB 41B | ETB 46.93B | ETB 54.11B | ETB 95.85B |
| Total Liabilities | ETB 23.23B | ETB 29.92B | ETB 41.41B | ETB 50.93B |
Cash flow
| Fiscal year | 2014EC | 2015EC | 2016EC | 2017EC |
|---|---|---|---|---|
| Operating | ETB 8.23B | ETB 7.97B | ETB 7.26B | ETB 5.67B |
| Investing | -ETB 6.17B | -ETB 8.18B | -ETB 12.81B | -ETB 36.86B |
| Financing | ETB 6.39B | ETB 4.53B | ETB 9.74B | ETB 34.45B |
Financial health
Return on equity (ROE)
2.8%
Return on assets (ROA)
2.1%
Capital adequacy ratio (CAR)
—
Non-performing loans (NPL)
—
Cost-to-income
—
Liquidity ratio
—
Competitors
Peer institutions in the same sector, latest fiscal year.
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state-owned-enterprise
Net profit · 2017EC
ETB 422.01M
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Net profit · 2017EC
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state-owned-share-company
Net profit · 2017EC
ETB 308.69M
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Net profit · 2017EC
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Net profit · 2017EC
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state-owned-enterprise
Net profit · 2016EC
ETB 1.23B
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Net profit · 2017EC
ETB 139.64B
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state-owned-enterprise
Net profit · 2016EC
ETB 773.71M
Ethiopian Electric Power
state-owned-enterprise
Net profit · 2016EC
-ETB 10.15B
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Net profit · 2016EC
ETB 598.63M
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Net profit · 2017EC
ETB 614.3M
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Net profit · 2015EC
ETB 91.17B
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Net profit · 2015EC
ETB 564.15M
Ethiopian Minerals Corporation
state-owned-enterprise
Net profit · 2016EC
-ETB 51.5M
Ethiopian Petroleum Supply Enterprise
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Net profit · 2015EC
ETB 236.79M
Ethiopian Pulp and Paper S.C.
state-owned-enterprise
Net profit · 2017EC
ETB 6.69M
Ethiopian Railway Corporation
state-owned-enterprise
Net profit · 2013EC
-ETB 42.48B
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Net profit · 2017EC
ETB 36.22B
Ethiopian Sugar Industry Group
state-owned-enterprise
Net profit · 2016EC
-ETB 5.3B
Ethiopian Toll Roads Enterprise
state-owned-enterprise
Net profit · 2017EC
ETB 982.35M
Ethiopian Tourist Trading Enterprise
state-owned-enterprise
Net profit · 2017EC
ETB 294.73M
Ethiopian Trading and Business Corporation
state-owned-enterprise
Net profit · 2016EC
ETB 525.3M
Federal Housing Corporation
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Net profit · 2017EC
ETB 1.66B
Genet Hotel
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Net profit · 2017EC
ETB 12.81M
Ghion Hotels Enterprise
state-owned-enterprise
Net profit · 2017EC
ETB 47.62M
Industrial Parks Development Corporation
state-owned-enterprise
Net profit · 2017EC
ETB 646.67M
National Alcohol and Liquor Factory
state-owned-enterprise
Net profit · 2017EC
ETB 307.5M
National Veterinary Institute
state-owned-enterprise
Net profit · 2016EC
ETB 109.91M
Spa Service Enterprise
state-owned-enterprise
Net profit · 2016EC
ETB 43.31M