The Business Registers Agency (APR) announced that EPS A.D. Beograd was the most successful economic entity in 2024, achieving the highest net profit and generating the largest business revenues. Following EPS in profitability were NIS and Srbijagas, according to the APR’s Annual Report on the Performance of Economic Entities in 2024.
In terms of the number of controlled legal entities, DELTA HOLDING D.O.O. Beograd retained the lead, managing 69 subsidiaries, 22 of which are based abroad. EPS, while highly profitable, also utilized the largest financial capacities and recorded the largest total losses.
The report is based on consolidated annual financial statements for 2023 and 2024, submitted by parent companies to the APR in accordance with accounting regulations. Overall, the economic entities achieved total revenues of 5,928,235 million dinars, total expenses of 5,607,189 million dinars, resulting in a positive net result of 255,121 million dinars.
Out of the analyzed entities, 605 reported net profits, covering 1,961 subsidiaries and associated companies, while 117 entities recorded net losses, encompassing 356 subsidiaries and affiliates.
The entities held business assets worth 7,841,798 million dinars and capital of 3,599,824 million dinars, with own financing sources amounting to 3,484,092 million dinars. Their total liabilities were 4,354,283 million dinars, with a debt-to-equity ratio of 1.25 and equity ratio of 44.4%, indicating reliance on borrowed funds. Cumulatively, the entities recorded a total loss of 853,738 million dinars, with 112,309 million dinars exceeding their capital.
Economic entities accounted for 29.5% of total revenues and expenses in the economy, generating 24.0% of net profit and 11.4% of net losses, while employing over a quarter of the workforce and using 30.7% of total assets and 31.4% of capital.
Notable profitable entities included NIS A.D. Novi Sad and JP Srbijagas Novi Sad, ranking second and third, with significant revenues, assets, and capital. Other high performers were ALCO INVESTMENT D.O.O. Beograd, turning around from last year’s losses, and COCA-COLA HBC – Srbija D.O.O. Zemun, both among the top five in net results.
Entities with extensive consolidation included MPZ-AGRAR D.O.O. Novi Sad and MPZ AGRAR DVA D.O.O. Novi Sad (44 and 42 subsidiaries, respectively), GALENS INVEST DOO Novi Sad (28 entities, 5 abroad), and MILŠPED D.O.O. Beograd (22 entities, 15 abroad).
The analysis covers 722 economic entities, controlling 2,317 subsidiaries and associates, and employing a total of 337,046 workers. The publication provides insights into overall performance, highlights leading entities by financial indicators, and lists the top 20 entities by revenue, net profit, assets, capital, as well as those with the largest net and total losses.
The Annual Report on the Performance of Economic Entities in 2024 is published under Financial Reports / Annual Reports on the Performance of Legal Entities, Entrepreneurs, and Economic Units.
