Pljevlja Coalmine recorded a net profit of 6.3 million euros in the first quarter of 2025, marking a significant increase compared to the 3.7 million euros earned during the same period in 2024. According to the company’s financial report, sales revenues reached 18.7 million euros in the first three months of the year, up by 5 percent year-on-year.
The company also reported a decline in operating expenses, which fell by 6.7 percent to 6.9 million euros. As a result, profitability improved substantially in the reporting period.
By the end of March 2025, Pljevlja Coalmine’s total assets were valued at 150.5 million euros, reflecting a 1.8 percent increase compared to the end of 2024. Long-term provisions and liabilities amounted to 17.5 million euros, while short-term liabilities totaled 20.9 million euros. Retained earnings stood at approximately 55.3 million euros.
The company’s ownership structure underwent significant changes in 2018 when Montenegro’s state-owned power utility EPCG launched a buyout bid for the entire capital of Pljevlja Coalmine. The offer, which ran from 20 April to 4 May 2018, proposed a share price of 6.4 euros. At the time, Deloitte conducted a valuation, concluding that despite the stock trading at 6.9 euros at the end of 2017, the fair value was indeed 6.4 euros per share.
Following approval by the Commission for the Capital Market in early June 2018, EPCG officially became the majority owner of Pljevlja Coalmine.
