Serbia, Economic profit in 2021 increased by 44.7 percent

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The profit of the economy in Serbia in 2021 increased by 44.7 percent compared to the previous year and amounted to 926.7 billion dinars, while the net loss decreased by 3.6 percent, to about 276.1 billion dinars, the Agency announced today for commercial registers (APR).

“During 2021, the business of companies took place in a favorable economic environment, which, along with the economic policy measures undertaken, after the recessionary movements caused by the corona virus pandemic, was reflected in the increase in the number of employees and growth in profitability, as well as in the strengthening of financial capacities”, he states in the announcement.

Last year, there were 106,219 companies operating in Serbia that employed 1,261,765 workers, and the number of employees was 34,312 higher than the previous year.

The total revenues were realized in the amount of about 14.77 billion dinars, and the total expenditures of about 13.93 billion dinars and were increased by 20.4 percent and 18.5 percent on the annual level.

In 2021, companies record an increase in profitability, with a positive net result of 686.6 billion dinars, which is higher by 81.1 percent compared to the previous year, and was achieved primarily thanks to the successful performance of the primary activity.

Looking at the sectors, most of them operated successfully, and except for two that showed a loss, all the others recorded a positive net result.

The largest total profit was achieved by companies in the following sectors: manufacturing industry (208 billion dinars), wholesale and retail trade (170.7 billion dinars), mining (79.7 billion dinars), construction (58.4 billion dinars) and information and communications (54.6 billion dinars).

The negative net result was realized by the electricity, gas, steam and air conditioning supply sectors (6.4 billion dinars) and accommodation and catering services (889 million dinars).

Public enterprises ended the year 2021 with a negative net result of about 7.4 billion dinars, unlike the previous year when they made a profit, and companies in bankruptcy and liquidation also reported a loss of 21.4 billion dinars.

As the main bearers of business activity and overall profitability, companies that are on the lists of “HUNDRED BEST… companies by operating income” and “HUNDRED BEST… companies by net profit” are singled out.

One hundred companies with the highest business income achieved 28.7 percent of income at the level of the economy, while one hundred most profitable companies had a share of 39.3 percent in the total net profit of the economy.

At the same time, STO NAJ… companies according to net loss reported more than half of the loss of the entire economy.

The financial capacities of companies have strengthened, whereby the growth of business assets and capital is accompanied by a decrease in losses, and the financial structure has improved somewhat, as shown by slight positive shifts in the movement of indicators of indebtedness and liquidity, APR stated.

The most profitable company in 2021 is Ziđa Mining Serbia with a net profit of about 34 billion dinars, which is almost 13 times higher than last year. Successful business was accompanied by an increase in the number of employees from 185 to 442 employees.

Ziđin’s high profitability was generated by the performance of its primary activity, given that in 2021 the company started the production and sale of copper concentrate, after testing the field, which enabled it to realize business income in a multiple of 37 times, which reached about 55 billion dinars.

The second-placed company, according to net profit, MK Group with a net profit in the amount of about 26 billion dinars, which has increased almost 10 times. In 2020, that company ranked 22nd in that table.

MK Group is registered to perform the activities of a holding company, that is, to mainly manage dependent legal entities (36), so the increase in net profit is a consequence of more intensive financial and other activities. MK Group employs 61 workers, which is nine less than the previous year.

The company Ziđin koper Bor advanced in the list of the most profitable companies by one position and took third place, with realized net profit in the amount of about 23.7 billion dinars or 2.8 times higher on an annual basis.

The company’s increased mining production, along with the rise in prices of copper and precious metals on the world market, influenced the intensive growth of business revenues by 71.9 percent, which were realized in the amount of about 121 billion dinars, making it fourth on that list. The number of employees increased by 252 employees, so that in 2021, 5,724 employees were hired.

The increase in the demand for steel in 2021, along with the simultaneous increase in the prices of that product, influenced the company Hbis Group Serbia to increase the volume of production and more than double its business revenues, achieving them in the amount of about 130 billion dinars and taking third place. Hbis moved from the fifth-placed loser last year to the sphere of profitable business with a net profit of about 23 billion dinars and took fourth place, employing 4,858 workers.

The Oil Industry of Serbia (NIS), due to the recovery of oil prices on the world stock exchanges and the reviving of the economy, realized business revenues, 67 times higher than the previous year, in the amount of about 281 billion dinars, and took second place. This resulted in the return of that oil company to the list of the most profitable companies in 2021, in fifth place, with a net profit of about 23 billion dinars.

Deleza Serbia is the fifth company in terms of operating income of about 118 billion dinars, which increased by 6.7 percent compared to the previous year. Although on the basis of business activities it recorded a slight increase in profit of about 6.8 billion dinars, this increase was compensated by a loss in the financial sphere of operations (208 million dinars), and this retail chain achieved a net profit of 24.4 percent less than last year, in the amount of 2.9 billion dinars and took 31st place.

The public company Srbijagas is among the companies with the highest business revenues, which amount to around 116 billion dinars. Those revenues are a third higher than the previous year, and the net profit of Srbijagas increased by 26 percent and amounts to about 3.7 billion dinars.

The largest company in Serbia, Elektroprivreda Srbije (EPS), is the leader in terms of business income, but it is the first in terms of the amount of net loss, as well as total loss. In 2021, EPS achieved business revenues of about 319 billion dinars, which are 12.6 percent higher compared to the previous year and make up 2.2 percent of the revenue of the entire economy.

At the same time, due to disturbances on the world energy market, as well as in the production of electricity in the fourth quarter, business expenses grew significantly faster (26.5 percent), which resulted in a business loss of around 10.9 billion after the previous year’s profit. dinars.

The public company EPS Belgrade reported the largest net loss, amounting to 14.9 billion dinars, which accounts for 5.4 percent of the total net loss of the economy. This, along with the transfer to the Republic of Serbia of a share in the capital of ODS EPS Distribucija Beograd, in accordance with the Conclusion of the Government of the RS, was reflected in a significant increase in the total loss (17.1 percent), which amounts to 225.6 billion dinars and represents 6.1 percent of the loss of the economy.

Out of 19 public companies, which employed 65,621 workers, 12 companies operated positively, of which four are among the 100 most profitable companies, and seven public companies operated with a net loss, with five on the list of the biggest losers.

Along with Srbijagas, the largest net profit among public companies was Posta Srbije, Beogradske elektrane, PEU Resavica, and the largest net loss, in addition to EPS, was held by Putevi Srbije, City Traffic Company, EPS Public Company TE Kosovo with PO Obilić and Elektromereža Priština, Beta writes.

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