Net profit of Serbian oil company NIS, majority owned by Russian GazpromNeft, in the first six months of 2017 amounted to 103 million euros, which is four times more then in the first half of 2016 (25.7 million euros).
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) in the first half of the year is 71 % higher than in the same period last year and amounts to 187 million euros. In that respect, the effect of NIS’s program of measures for operational efficiency increase on EBITDA indicator was 23.3 million euros. Liabilities of NIS Group for taxes and other public revenues amounted to 667.4 million euros, which is 5 % more than in the first six months of 2016.
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Tags: financial, fuel, NIS, oil, Serbia