Of the four most profitable companies in Serbia in the last year, Zijin Bor Copper, Petroleum Industry of Serbia (NIS), Nikola Tesla Airport and Al Dahra Serbia, only NIS profited from its core business – this was published in the new edition of the business monthly Biznis i Finansije.
The other three companies “took off” mainly because of sales to foreign investors and their initial investments, so the profit proved to be one-off, and not a reflection of good business, it was said in the edition that ranked the 150 largest companies in Serbia in 2018 / 2019, based on the realized profit and operating income, according to data from the Agency for Business Registers (APR).
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NIS is the most successful company in 2018, although it ranks third in terms of profit and second in terms of business income. Last year, its revenues reached 258.5 billion dinars with an annual growth of 19.8%, while the profit of about 26 billion dinars decreased by 6.2%.
Last year’s largest foreign direct investment was made by the Chinese company Zijin which acquired a 63% stake in a mine in Bor (RTB). This put the company to be in the first place, with a profit of 90 million dinars.
The second in terms of profitability is Nikola Tesla Airport which net profit of about 53.2 billion dinars is largely a result of a one-off payment of 59.3 billion dinars on the basis of a contract with the French company Vinci, which resulted in operating revenues of 69.5 billion dinars, seven times higher than the previous year when they amounted to about 9.4 billion dinars.
Newly formed company Al Dahra Serbia is ranked fourth, with a profit of 12.2 billion dinars, which is the result of a purchase of the PKB Company for about 12.6 billion dinars.
The fifth position is occupied by Telekom Serbia, but the net profit of the company in 2018 in the amount of about 10.2 billion dinars was 30.1% lower than the previous year, while the operating income of 85.6 billion dinars remained at last year’s level.
Most of the most profitable companies are in the food and drinks sector, with the highest profits made by the companies Coca Cola HBC Serbia, Matijevic Meat Industry, Bambi, Imlek and Frikom.
As in previous years, the highest total revenues in 2018 were generated by Electric Power Industry of Serbia (EPS) (263.9 billion dinars) and NIS (258.5 billion). The newcomer on the top 5 list is HBIS Iron and Steel Serbia. The company (formerly Zelezara Smederevo – Smederevo Ironworks), which ranked eighth in 2017, increased its total revenue by 34.6% in 2018 to 105.1 billion dinars, with a profit ten times higher than 25 million dinars.
Retail chain Delhaize Serbia takes the 4the place, with a turnover of about 100.5 billion dinars, up 5.9% over the previous year, while FIAT is in fifth place, but its results are much worse than those of the previous year; revenues of 88.3 billion dinars decreased by 21% and net income of 1.5 billion dinars decreased by 28.9%.
Finally, the biggest increase in operating income compared to the previous year was recorded by the Belgrade Waterfront Company.
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