The performance of the domestic economy last year was marked by Chinese companies mainly thanks to the export of metals, and the biggest profit in 2021 was recorded by the company Srbija Zijin mining from Bor, which increased its earnings by as much as 13 times, to 34.4 billion dinars, it was announced in the edition BUSINESS TOP 2021/22 of “Business and Finance” magazine.
The profit of that Chinese company was achieved primarily due to a large increase in business income from the sale of copper concentrate, mostly through export.
MK Group is second with a net profit of 26.2 billion dinars, an increase of almost 10 times compared to the previous year, but the profit was generated mainly from financial transactions and the sale of shares in parent and subsidiary legal entities.
The company Ziđin kuper Srbija is third in terms of profit of 23.8 billion dinars, which increased
profit 2.8 times, mostly thanks to the growth of business revenues from exports, it was stated in the annual edition in which the magazine “Business and Finance” publishes the ranking list of the 150 largest companies in Serbia.
Due to the growth in demand and the jump in steel prices, HBIS Group Serbia went from the fifth largest loser in 2020 to the fourth most profitable company last year with a profit of 23.7 billion dinars.
In fifth position is the Oil Industry of Serbia (NIS), which generated a profit of 23.1 billion dinars mainly from increased activities in oil processing and trading, according to the BIZNIS TOP edition.
Last year, of the hundred most successful companies, more than two-thirds increased their earnings from their core business.
The largest increase in profit was recorded by the companies HIP Petrohemija, the aluminum rolling mill Impol Seval and the producer of mineral fertilizers Elixir Zorka, mainly due to the increase in the value of exports.
Profitability was reduced by 15 companies, and the largest decline was experienced by the corporations Invej, Tetra Pak, RŽD International, Delez Serbia and Grundfos Serbia.
Last year, only 29 companies exported goods worth more than 100 million euros, while more than two thirds of exports were goods and services worth up to 100,000 euros.
This year, most of the most important economic branches reduced production and exports, and significantly weaker results of agriculture and construction will have the greatest impact on the slowdown of economic growth in 2022.
it is predicted in the BIZNIS TOP 2021/22 edition.
According to reports, the public company Elektroprivreda Srbije (EPS) last year managed to maintain the first position in terms of revenues, which increased by 12.6 percent to 319.7 billion dinars, but the largest Serbian electricity producer at the same time had losses from business, financing and other activities.
Thus, in contrast to 2020, when EPS was the most profitable company in Serbia, in 2021, this state-owned enterprise reported the largest net loss – of 14.9 billion dinars.
Also, EPS recorded the largest total loss of 225.7 billion dinars, which last year increased by 17.1 percent and accounted for 6.1 percent of the accumulated loss of the economy, according to the BIZNIS TOP edition, N1Â writes.
