Forbes Serbia reports that the Oil Industry of Serbia (NIS) saw a significant decline in profits in 2023, halving compared to the previous year. Their earnings amounted to “only” 41.9 billion dinars during that period.
The decrease in profit is attributed to a notable drop in total revenues, which fell from 506.5 billion to 402.7 billion dinars. Net income from sales also experienced a substantial decline, decreasing by nearly 96 billion dinars, from 486.9 billion to 391 billion dinars. Particularly, domestic sales of oil derivatives suffered the most, with a revenue decrease of nearly 80 billion dinars.
In contrast, Serbia Zidjin Mining reported a net profit of 82.3 billion dinars in 2023, compared to 75 billion dinars in the previous year. Despite total revenues growing faster than expenditures, which increased from 122 to 136.1 billion dinars, expenditures were six billion dinars higher.
Another company, Zida’s dill, also experienced a decrease in profit, although it remains significant. Their profit in 2023 was 19.2 billion dinars, compared to 35 billion dinars the year before.
Regarding Telekom Srbija and MK Group, financial reports for the past year are not yet publicly available. In 2022, Telekom reported a profit of 13.3 billion dinars, while MK Group recorded a profit of 9.9 billion dinars during the same period.
