NIS Group continues to invest: Net profit RSD 21 billion

In 2021, thanks to strong financial discipline and focus on priority development projects, with more favourable market conditions, the NIS Group significantly improved its financial and operational results compared to the previous year. The NIS Group’s net profit last year amounted to RSD 21 billion, while in 2020, due to the consequences of the coronavirus pandemic, a loss of RSD 7.6 billion was recorded.

EBITDA in the reporting period amounted to RSD 53.2 billion, which is 3.4 times better than the year before. During 2021, the amount of RSD 20.2 billion was invested in development projects. The obligations of the NIS Group based on taxes and other public revenues amount to RSD 217.8 billion, which is 21 percent more than the obligations in 2020. The average price of Brent Dtd petroleum in the reporting period was US$70.7 per barrel, i.e. 70 percent more than a year earlier.

In 2021, the NIS Group also achieved significant operational results. A total of 1.194 million ton equivalents of petroleum and gas were produced, and a total of more than 40 development and exploration wells were put into operation in Serbia and Romania. The Pancevo Oil Refinery refined 3.945 million tons of petroleum and semi-finished products, which is 9% more than in 2020, but also the highest refining volume since 2009. Record-high results were also achieved in the field of transport, as a total of 4.031 million tons of petroleum products were sold, which is 14 percent more than a year earlier.

Izvor: BIZLife

Foto: NIS