NIS earns RSD 12.4 billion in six months of 2017 – Company invests 10 billion

The net profit of the NIS Group in the first six months of 2017 amounts to RSD 12.4 billion, which is four times more compared to the first half of last year, when it amounted to RSD 3.1 billion.

EBITDA is 71% higher compared to last year and amounts to RSD 22.5 billion. The effects of the program of measures for increasing the operating efficiency of NIS on EBITDA in this period amounted to RSD 2.8 billion.

Tax and other public income liabilities of the NIS Group amounted to RSD 80.3 billion, which is 5% more than in the first six months of 2016.

The production of oil and gas amounted to 692 thousand conditional tons, whereas the processing in NIS' refinery capacities amounted to 1.6 million tons. The total amount of the sale of petroleum products amounted to 1.6 million tons, with retail in Serbia marking a growth of 2% compared to last year.

Kirill Tyurdenev, managing Director of NIS, said that “financial results of NIS in the first half of the year undoubtedly display a positive dynamic”.

– In the period encompassed by the report, we invested RSD 10 billion in the development of NIS, which is 9% more than in the first six months of 2016. We continue investing – the company is entering an active phase of the second stage of the modernization of the Pancevo Refinery. I am convinced that the new development projects and a further increase of operating efficiency will secure the strengthening of the position of NIS in the energy market of the Balkans – he said.

The NIS Group published consolidated operating results for the first half of 2017, prepared in line with international standards of financial reporting.

NIS a.d. Novi Sad

Naftna Industrija Srbije

NIS profit

NIS revenues

EBITDA NIS

oil and gas production

Pancevo oil refinery

Kirill Tyurdenev