NIS group business results for nine months of 2024

NIS invested more than RSD 37 billion in capital projects

In the period from January to September 2024, the NIS Group invested RSD 37.3 billion in capital projects, which is 70 percent more compared to the same period last year. These investments continued the modernization of NIS in all business segments and laid the foundations for long-term successful business operations. The second priority of NIS in the reporting period was the successful turnaround of the Pančevo Oil Refinery and the orderly supply of the market with all types of petroleum products during the turnaround activities.

The production downtime during the turnaround, the most complex in the history of the factory, affected the financial and operational results of NIS in the reporting period, as expected. The net profit in the first nine months of the current year amounted to RSD 8 billion, which is 75 percent less compared to the same period last year. The EBITDA indicator is RSD 34.5 billion, which is 39 percent less compared to last year. At the same time, the volume of liabilities of the NIS Group on the basis of taxes and other public revenues increased and amounted to RSD 191.9 billion, which is 6 percent more than in the comparative period. In addition, in August, NIS paid out a dividend for 2023 in the gross amount of RSD 10,478,261,304.

When it comes to operational results, the total volume of oil and gas production in the first nine months of the current year amounted to 856.7 thousand tonnes of oil equivalent, which is 1 percent less than in the same period last year. In the Pančevo Oil Refinery, 2.5 million tonnes of crude oil and semi-finished products were refined, which is 16 percent less than in the comparative period. The total sales of petroleum products decreased by 9 percent and amounted to 2.7 million tonnes.

In addition to its business activities, NIS continued to implement socially responsible projects. A competition was conducted within the “Common Cause Community” social responsibility programme to finance projects in key local self-governments in which NIS operates. The goal is to develop projects in the field of renewable energy sources, in which NIS will invest a total of RSD 144.5 million.