NIS perfomance in 9M 2018

NIS perfomance in 9M 2018NIS Group publishes consolidated business operations results in 9 months of 2018, formulated pursuant to international financial reporting standards.

In this reporting period NIS further improved its financial and business performance, along with continued delivery of strategic projects ensuring further development and modernisation of NIS Group.

Net profit generated in the 9 months of 2018 is RSD 21.7 billion, by 8 per cent more than Net profit generated a year ago. Growth has been accomplished also in terms of EBITDA indicator (Earnings before Interest, Taxation, Depreciation & Amortisation), which is RSD 42 billion, i.e. 23 per cent more than in the same period last year. This year, NIS had invested RSD 27.3 billion, which is 64 per cent greater amount of investment compared to 9 months 2017. NIS focus in terms of investment was on the exploration and production oil and gas, as well as on the completion of the “Bottom-of-the-Barrel” project, pivotal for stage two of Refinery revamp.

Furthermore, NIS operative indicators improved in terms of oil refining and oil products sales. The volume of oil refining and semi-products in the 9 months this year was 2,769 million tons, 6 per cent more than in the same period previous year. The overall volume of oil products sales is 2,741 million tons, which is 10 per cent better result compared to 9 months 2017. In 2018, NIS also posted a growth in oil products exports of as many as 20 per cent compared to previous year. In 9 months this year 999 thousand tons of oil and gas equivalent were produced.

NIS Group liabilities concerning taxes and other public revenues in the 9 months of 2018 are 142.3 billion RSD, which is 16 per cent more than last year. In August, NIS paid out RSD 6.95 billion to its shareholders as dividends in 2017.

Kirill Turdenev, CEO NIS said: “We performed well in 2018, in terms of finances, first and foremost thanks to the improved operative indicators and measures for the improvement of operational efficiency. These measures brought about an EBITDA indicator to the tune of RSD 3.7 billion in the 9 months this year. The coming period shall also see our commitment to further efforts to boost efficiency of business operations in NIS Group and so capitalise positive results accomplished so far this year and to meet objectives set out in our Development Strategy“.