In 2024, gas company Srbijagas saw a notable increase in operating revenues but experienced a significant decline in net profit. According to the company’s financial report, net income dropped to 71.6 million euros from 102.7 million euros in 2023.
Despite the lower profitability, total operating income rose by 5% to nearly 1.55 billion euros, indicating expanded business activity. However, rising costs and financial pressures weighed on overall earnings.
A major factor impacting the company’s finances is its long-term debt. As of 31 December 2024, Srbijagas reported total liabilities of 654.5 million euros. This includes 495.7 million euros in long-term loans backed by government guarantees, 82.7 million euros in long-term loans without state support, and 76.1 million euros in short-term loans not guaranteed by the government. Notably, 42.7 million euros of the short-term loans were provided directly by the state.
Compared to 2023, the company significantly reduced its debt. At the end of that year, total liabilities stood at 1.095 billion euros, including 675 million euros in government-backed long-term loans, 113.5 million euros in non-guaranteed long-term loans, and 306.7 million euros in short-term borrowings — with 281.7 million euros of that owed to the state.
