Serbia, The most profitable company is Zijin Mining from Bor, News
First on the list of the most profitable in 2021 is the Chinese company Serbia Zijin Mining, the majority owner of the RTB Bor copper mine, with a net profit of 34.3 billion dinars (290 million euros). This result is almost 13 times higher than the previous year, according to data from the Agency for Economic Registers (APR).
The company increased its profit because last year it started producing and selling copper concentrate and achieved 37 times higher revenues than in the previous year, which reached 55 billion dinars.
According to the APR data, the company operated with twice as much assets compared to the previous year, with a value of around 73.4 billion dinars.
Serbia Zijin Copper is a company operating within the ZiJin Mining Group.
It was founded in Serbia in 2018, when Zijin signed an agreement with the Government of Serbia on the acquisition of 63 percent of ownership in RTB Bor.
In second place in terms of profitability is the company MK Group with a net profit of 26 billion dinars (about 222 million euros), according to APR data.
Then, the branch of the Bor copper mine company Serbia Zijin Copper achieved a net profit of 23.7 billion dinars.
The intensive growth of business income was influenced by the increased mining production, along with the rise in the prices of copper and precious metals on the world market, according to the APR announcement.
In fourth place is the Chinese company Hbis Group Serbia Iron & Steel , the owner of Železara Smederevo, which turned from a loss maker to a profitable company last year, with a net profit of 23.7 billion dinars.
The positive result was influenced by the increased demand for steel during the last year as well as the increase in the price of steel on the market.
NIS returned to the list of the most profitable companies and took fifth place in 2021, with about 23 billion dinars. Due to the recovery of oil prices on the world stock markets, as written in the announcement of APR, NIS AD Novi Sad recorded business revenues that were 67 percent higher last year than the previous year.
The list of successful companies includes the Delhaize Serbia trade chain , which is the fifth company according to business income of 118 billion diars, 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, that increase was compensated by a loss in the financial sphere of operations, so this retail chain achieved a lower net profit by 24.4 percent of the previous year in the amount of 2.9 billion dinars and occupies the 31st place . Business assets and capital have increased, and according to the value of these capacities, the company is in 16th place. At the same time, it ranks fourth according to the number of employees of 11,637, which is 1,252 fewer employees compared to the previous year”, the APR press release says, Nova Ekonomija writes.
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