Pljevlja coalmine reported a net loss of approximately 1.4 million euros in the first nine months of 2025, a sharp decline compared to a profit of 3.34 million euros recorded in the same period last year.
According to the company’s financial report, sales revenues dropped significantly to 21.8 million euros, representing a 49.4 percent decrease compared to 2024. At the same time, operating expenses were reduced by 9 percent, reaching 19.3 million euros.
As of the end of September 2025, Pljevlja coalmine’s total assets were valued at 142.2 million euros, marking a 3.8 percent decline compared to the end of 2024. The company’s long-term provisions and liabilities amounted to 21.5 million euros, while short-term liabilities totaled 16 million euros. Retained earnings were reported at around 33.1 million euros.
Pljevlja coalmine has been under the ownership of Montenegro’s state power utility EPCG since mid-2018. EPCG launched a buyout bid for the company’s entire capital—5,064,443 shares—in April 2018, offering 6.4 euros per share. The offer was based on a valuation conducted by Deloitte, which determined that although the market price stood at 6.9 euros at the end of 2017, the fair value was 6.4 euros per share. Following the approval of the Capital Market Commission in June 2018, EPCG became the majority owner of Pljevlja coalmine.
