EPS’s Profit in 2023 Nearly EUR 1 Billion

At today’s session, the Assembly of the Joint-Stock Company Elektroprivreda Srbije (EPS AD) adopted the Report on the realization of the consolidated three-year business plan for last year, which shows that the company’s profit amounted to RSD 114 billion, announced the Ministry of Mining and Energy.

– Last year’s financial result of EPS is truly historic. A profit of nearly EUR 1 billion is unrecorded as of yet. Still, it is necessary to continue the process of improving the management, carry out in-depth changes in each segment, improve the production of coal, intensify the work on overburden layers and accelerate investments in production capacities – the minister of mining and energy of Serbia, Dubravka Djedovic Handanovic, the representative of the founder in the Assembly of EPS AD, said following the session.

At the session of the Assembly, which, in addition to the members of the Executive Board, was also attended by members of the Supervisory Board of EPS AD, Djedovic Handanovic said that, in 2023, the finances and the production of electrical energy had been stabilized, with considerably filled out coal disposal sites and reservoirs.

The changes, according to her, started from the top, and in order for the company to truly transform into a profitable energy giant, in-depth changes also need to be carried out within the system.

– We are still working on the plan of the transformation of the company, which should set up the foundations of operating and financial efficacy. At the same time, it is necessary to identify the unnecessary costs and realize savings, because there is always room for savings, especially when it comes to operating expenditures – she said.

She said that the state, as the owner, will continue insisting on the transformation and on an accelerated work on the opening of new open-pit mines, an increase in the production of coal and a much bigger realization of investments, as EPS sorely needed them.

The investments, as she said, need to be looked at more realistically, planned better and, most importantly, realized much better.

Ministarstvo rudarstva i energetike Republike Srbije

Elektroprivreda Srbije ad Beograd

Ministry of Mining and Energy of Serbia

Elektroprivreda Srbije

EPS

Dubravka Đedović Handanović

EPS profit

opening of new open pit mines