NIS achieved its priorities, the orderly supply of oil derivatives to the market was preserved

, News

In a challenging macroeconomic environment in the period January-September 2022, the NIS Group achieved its priorities – the orderly supply of oil derivatives to the market was preserved and investment in further modernization continued. The first nine months of the current year were also marked by an increase in the prices of crude oil and oil derivatives. The average price of “Brent” oil was 105.3 dollars per barrel, i.e. 56 percent more compared to the same period last year. In addition, improved operational indicators contributed to the good financial results of the NIS Group, primarily in the area of ​​processing and sales. Thus, the net profit of NIS in the reporting period was 69.4 billion dinars, while the EBITDA indicator (profit before interest, income tax and depreciation) is 104.8 billion dinars. The calculated liabilities of the NIS Group based on public passes amount to 184.6 billion dinars. which is 19 percent more than in the first nine months of last year. At the same time, indebtedness to banks was reduced by three percent, which at the end of the third quarter of 2022 amounts to EUR 570.6 million. In the name of dividends for the year 2021, NIS paid shareholders more than 5.78 billion dinars, which is 25 percent of last year’s net profit of the Company.

In the reporting period, the total production of oil and gas amounted to 879.3 thousand conditional tons, which is almost at the same level as in the comparative period last year, when 889.9 thousand conditional tons were produced. In the Pančevo Oil Refinery, 3.265 million tons of oil and semi-products were processed, which is 14 percent more than in the same period in 2021. The volume of sales of oil derivatives also increased and amounted to 3.222 million tons, which is 11 percent more than in the comparative reporting period. In addition, the Energy Block was formed whose task, among other things, will be to accelerate the energy transition of NIS and expand the scope of work in the field of electricity production and trade, solar energy, as well as the management of energy resources in NIS.

In 2022, NIS continued to provide a strong contribution to the development of the community. Projects in 13 local communities were chosen at the competition of the “Communities Together” program, which the company will support with 118.5 million dinars in order to contribute to the common goal – improving the equipment of health institutions, supporting couples in the process of in vitro fertilization and increasing the birth rate in our country.

Kiril Tjurdenjev, general director of NIS, said: “So far this year, we have successfully responded to all challenges and contributed to the energy stability of the Republic of Serbia.” In addition, we invested more than 12 billion dinars in the further development of NIS. We remain a secure source of income for our shareholders, as well as a reliable partner to the community in which we operate. Until the end of the year, we remain committed to further improve our results and create good foundations for business in the coming year, in which we also face numerous challenges”, Kurir writes.