From January to September 2024, NIS Group invested approximately €318 million in capital projects, reflecting a 70% increase compared to the same period last year. These investments are part of NIS’s ongoing modernization efforts across all business segments, laying a foundation for long-term success. A key focus during this period was the successful completion of a significant overhaul at the Pancevo oil refinery, which ensured a continuous supply of various oil derivatives during maintenance.
However, the production halt during this complex overhaul impacted NIS’s financial and operational results. The company reported a net profit of €68 million for the first nine months of 2024, marking a 75% decline from the previous year. EBITDA also decreased by 39%, totaling €295 million. Additionally, NIS Group’s tax obligations and other public revenues rose to €1.64 billion, up 6% from the same period last year. In August, NIS distributed €89 million in dividends to shareholders for the 2023 fiscal year.
Operationally, total oil and gas production reached 856,700 tons of oil equivalent, a slight 1% decrease compared to the same period last year. The Pancevo oil refinery processed 2.5 million tons of crude oil and semi-finished products, which is a 16% decline year-on-year. Furthermore, total sales volume of oil derivatives fell by 9%, totaling 2.7 million tons.
