Strong profitability growth of Messer Tehnogas in the first half of 2016

Messer Tehnogas recorded non-consolidated sales at RSD 3.6bn in the first six months, up 17.8% comparing to the same period last year, while EBIT increased by 25% to RSD 845.7m.

Net profit arrived at RSD 751.7, up 24.5%. On a consolidated level, which includes subsidiaries in Kosovo, Bosnia and Albania, Tehnogas registered 4% drop in sales to RSD 4bn, primarily due to the fact that the subsidiary in Turkey was sold at 2H15. Consolidated EBIT jumped to RSD 963,6m, up 54%, while net profit arrived at RSD 865.4m, up 64.4%.

Strong profitability growth arrived mostly due to reduction of costs of fuel and energy.

Tehnogas’ management noted that the biggest risk on the business side might be the fact that Smederevo steel mill, the biggest buyer of Tehnogas, was sold to Chinese Hesteel.

Messer Tehnogas ad Beograd

Železara Smederevo d.o.o.

HBIS GROUP Iron & Steel d.o.o. Beograd

Messer Tehnogas

Hesteel