Serbia Zijin Mining from Bor was the most profitable company in Serbia in 2024, reporting a net profit of 83.7 billion dinars, while Continental Automotive Serbia from Novi Sad recorded the largest net loss of 19.8 billion dinars, according to the Top 100 Companies in 2024 report published by the Serbian Business Registers Agency.
Despite challenges, Serbia’s economy maintained moderate growth in 2024, with the top 100 companies contributing significantly to overall revenues and profitability.
The 100 companies with the highest revenues generated 28.6 percent of the country’s total business income, employing 16.5 percent of the workforce. Manufacturing dominated with 34 companies, while wholesale and retail trade generated the highest revenues with 33 companies.
The 100 most profitable companies contributed 37.6 percent of total net profit, with large companies making up the majority at 85. Mining companies showed the largest net profits.
Serbia Zijin Mining achieved a net profit of 83.7 billion dinars, supported by a 37.7 percent increase in revenues to 180.9 billion dinars, while expenses grew more slowly at 19 percent. The company employed 1,284 workers, 157 more than in 2023, and ranked 13th in total assets at 146.4 billion dinars and 11th in capital at 88.7 billion dinars. Serbia Ziđin Koper followed in second place with a net profit of 29.5 billion dinars, up 53.8 percent from the previous year.
The largest company by revenue, Elektroprivreda Srbije, earned 444.6 billion dinars, despite a 10.7 percent decline due to lower hydroelectric production and higher domestic consumption. Its net profit dropped 78.3 percent to 24.4 billion dinars, ranking third in net profit.
NIS ranked fourth in net profit at 18.3 billion dinars despite a 56.1 percent decrease, while Telekom Srbija was fifth with a net profit slightly over 10 billion dinars, down 70.5 percent. Manufacturing remained the most represented sector among the top 100 companies, followed by wholesale and retail trade and construction.
Continental Automotive Serbia reported a net loss of 19.8 billion dinars, more than double the previous year, due to increased production costs and higher inventory expenditures. Other major loss-making companies included Putevi Srbije, GSP Beograd, JP PEU Resavaica, and Elektrokosmet Priština.
Of the 20 public companies analyzed, 10 operated at a profit while 10 posted losses. Srbijagas ranked seventh among profit-makers, and Pošta Srbije was 59th.
The report highlights the dominance of large companies in Serbia’s economy, with the mining and manufacturing sectors leading in profitability, while automotive and public infrastructure companies faced significant challenges.
