Belex15 companies record a 90% loss

Companies listed on the Belgrade Stock Exchange, members of the Belex15 index basket, last year suffered a sharp decline in profitability by about 90% compared to 2019.

“This is largely a consequence of the 22% drop in income, as well as reduced efficiency,” the representative of the brokerage Momentum Securities, Nenad Gujanicic, says.

He adds that Impol Sevel recorded the biggest drop in net profit last year, 98.98%, followed by Fintel Energija with 84.18%, Komercijalna Banka with 64.27% and Alfa Plam with 11.88%.

“Two companies in which a large number of citizens have shares, the Serbian oil industry NIS and Nikola Tesla Airport also recorded losses. Due to the drop in the price of crude oil and the reduction in demand, NIS had a 32% drop in revenue and the net loss of 7.6 billion dinars,” Gujanicic said.

He added Nikola Tesla Airport registered a loss of 800 million dinars, mainly due to flight restrictions and only partially collected concession fee.

The decline in profitability of Impol Seval was a result of recessionary trends in the main export markets for most of 2020.

Gujanicic also said the biggest growth in net profit was recorded by Energoprojekt Holding, 59.49%, Jedinstvo Sevojno 36.90%, Galenika Fitofarmacija 30.36%, Dunav Osiguranje 18.77%, Metalac 5.02% and Messer Tehnogas 3.33%.

“The total net profit of the members of the Belex15 index basket, in 2020, was lower by about 90% and fell to 3.4 billion dinars, mainly due to the negative impact of the operations of the NIS,” Gujanicic said.

Belex15 is the stock market index of the Belgrade Stock Exchange that shows the price fluctuations of the most liquid securities on the Serbian capital market.

(N1, 15.06.2021)


This post is also available in: Italiano

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