NIS earned RSD 21 billion in 2021 - RSD 25 billion of investments planned in 2022

The Petroleum Industry of Serbia (NIS) announced today that it made a profit of RSD 21 billion in 2021, after a recorded loss of RSD 7.6 billion in 2020, due to the consequences of the COVID-19 pandemic.

Last year, the EBITDA indicator (profit before interest, income tax and depreciation are deducted) amounted to RSD 53.2 billion, which was 3.4 times better than the year before, the announcement states.

Liabilities of the NIS Group based on taxes and other public revenues last year amounted to RSD 217.8 billion, 21% more than in 2020.

As it is emphasized, NIS invested RSD 20.2 billion in development projects during 2021.

The announcement also specifies that the NIS group produced a total of 1.194 million conditional tons of oil and gas in 2021, and a total of more than 40 development and exploration wells in Serbia and Romania were put into operation.

The Pancevo Oil Refinery processed 3.945 million tons of oil and semi-finished products, which is nine percent more than in 2020, but also the largest volume of processing since 2009.

Record results, as pointed out, were also achieved in the field of transport, because a total of 4,031 million tons of petroleum products were sold, which is 14% more than a year earlier.

It is also stated that NIS continued the modernization of its retail network and in 2021 opened 10 new and reconstructed facilities throughout Serbia, including the first gas station on the newly constructed "Milos Veliki" highway.

In the energy field, the construction of the Pancevo Thermal Power Plant has continued, with commissioning to be expected in 2022.

The document reiterates that, in late 2021, representatives of NIS, the Serbian Ministry of Economy and HIP Petrohemija signed a Strategic Partnership Agreement in accordance with which NIS will increase its ownership stake in HIP Petrohemija to 90% of share capital with a recapitalization obligation of EUR 150 million and the construction of a polypropylene production plant with a capacity of at least 140,000 tons annually within six years.

NIS General Manager Kirill Tyurdenev stated that the company plans further investments in 2022, in the amount of RSD 25 billion.

NIS a.d. Novi Sad

HIP-Petrohemija a.d. Pančevo

Petroleum Industry of Serbia

NIS

HIP Petrohemija

TE TO Pancevo

Kirill Tyurdenev

strategic partnership

net profit

investments

oil drills

pumps