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The VSE as we know it today was established on 1 April 2014. On 1 July 2014, the Trade Division was spun off from VSE Holding a.s. into VSE, thereby concentrating the electricity supply-related business activities of the then VSE Group in VSE.
VSE's core business is the supply of electricity and natural gas to residential and business customers, as well as the provision of energy auditing services and the sale of non-commodity products.
VSE operates throughout the country, but mainly in the Košice, Prešov and part of the Banská Bystrica regions, where it provides electricity, natural gas and other services.
The company's current assets consist mainly of trade receivables and current liabilities consist mainly of trade payables, both related to the supply and distribution of electricity and gas as well as the providing of complex energy solutions to customers. Shareholders' equity is mainly represented by share capital and legal reserve.
VSE's main source of revenue and EBITDA is the supply of electricity and gas.
Electric energy and gas distribution revenues are only pass-through, as the suppliers invoice the customers both for supply and distribution part of the price but the distribution part is then transferred to the electric energy or gas distribution system operator (DSO).