Serbian oil and gas company NIS Group recorded a net profit of €12.8 million in the first quarter of 2025, down 16% compared to the same period last year. EBITDA fell by 15% to €72.5 million, reflecting the impact of softer oil prices and ongoing international restrictions.
The company allocated €47 million to capital investments, primarily in oil and gas exploration and production. Public revenue obligations during the period amounted to €446 million, while bank debt was reduced by 3%, bringing it to €540.4 million.
Operationally, NIS maintained supply stability across the domestic petroleum market and affirmed its focus on financial discipline and employee support. Oil and gas production declined 4% year-on-year to 277,500 tons. However, processing volumes surged 33% to 853,000 tons, due to the completion of major maintenance at the Pančevo refinery during Q1 2024.
Despite a 4% year-on-year decrease in petroleum product sales (719,000 tons), the group sustained its electricity production at 34.9 GWh.
NIS continues efforts to be removed from the U.S. Treasury’s Specially Designated Nationals (SDN) list, where it was placed on January 10, 2025. The average Brent crude price during the quarter was $75.7 per barrel, a 9% drop from the same period last year.
