The most profitable company in Serbia in 2021 is Zijin mining doo Bor with a net profit of 34.36 billion dinars, which is almost 13 times higher than last year, the Agency for Business Registers (APR) announced in the report “100 BEST…business companies in 2021”.
In second place is MK Group with a net profit in the amount of RSD 26.16 billion, which has increased almost 10 times on an annual basis. When it comes to losers, the first place belongs to Elektroprivreda Srbije, a public company that is also the largest company in Serbia, and during 2021 it recorded a loss of 10.95 billion dinars.
The report points out that ZiJin mining d.o.o. Bor has achieved high profitability by performing its primary activity, considering that the company started the production and sale of copper concentrate in 2021 after the activity of field testing, which enabled it to realize business income in as much as 37 times higher amount, which reached 55.07 billion dinars.
“Zijin mining achieved a significantly higher business profit, in the amount of 39.78 billion dinars.” Financial income from relations with the parent, dependent and other related entities, which were the main factor in the positive net result last year, recorded a drop of 92 per cent, while expenses based on long-term loans from the parent legal entity increased almost eight times, and in the financing part, reported a loss of 4.58 billion dinars”, APR assesses.

The second-ranked company according to net profit is MK Group Belgrade, which, according to the Report, showed a highly positive result.
“Considering that the company is registered to perform the activities of a holding company, i.e. that it mainly manages dependent legal entities (36), the increase in net profit is a consequence of more intensive financial and other activities from which, due to significant income from dividends based on shares in related entities i.e. profits from the sale of shares in parent and subsidiary legal entities, showed a high positive result (14.43 billion dinars and 14.7 billion dinars respectively), while in the part of business activities it recorded a loss (644 million dinars),” the Report states.
Among the top five companies in terms of profitability and operating income is ZiJin Koper from Bor, with a net profit of RSD 23.77 billion, 2.8 times higher on an annual basis. It is followed by the HBIS group, which increased the volume of production and more than doubled its business revenues, achieving them in the amount of RSD 130.58 billion.
NIS is also on the list, which, as it is pointed out, due to the recovery of oil prices on the world stock exchanges and the revival of the economy, realized business revenues higher by 67 percent than the previous year, in the amount of 281.05 billion dinars.
The report singles out successful companies that are among the leaders in terms of business income, with a high net profit and large financial capacities, such as Delez Srbija and Srbijagas.

The largest business company in Serbia is JP EPS Beograd, which is the leader in terms of business income, has the most valuable financial capacities, but is also the first in terms of the amount of net loss, as well as total loss.
In 2021, it achieved business revenues of 319.68 billion dinars, which are 12.6 percent higher compared to the previous year and make up 2.2 percent of the revenue of the entire economy. At the same time, due to disturbances on the world energy market, as well as in the production of electricity in the fourth quarter, business expenses grew significantly faster (26.5 per cent), which resulted in a business loss of 10.95 billion dinars after the previous year’s profit”, states APR.
In addition, EPS recorded a loss in the financing sub-balance of 1.67 billion dinars, while the previous year it recorded a gain, and in part of other activities of 2.64 billion dinars.
“As a result of the aforementioned developments, unlike the previous year when it was the most profitable, JP EPS reported the largest net loss in the amount of 14.95 billion dinars, which is 5.4 per cent of the total net loss of the economy. This, along with the transfer to the Republic of Serbia of a share in the capital of ODS EPS Distribucija Beograd, in accordance with the Conclusion of the Government of the RS, was reflected in a significant increase in the total loss (17.1 per cent), which amounts to 225.65 billion dinars and represents 6.1 percent of the loss of the economy. The business assets of this large energy system in the value of 962.09 billion dinars and the capital of 600.98 billion dinars make up five percent and 6.8 per cent of those capacities at the level of the economy,” states APR.
JP EPS employed 1.9 per cent of all employees in the economy, i.e. 23,507 workers, which is 971 workers less than the previous year.
There are 19 public companies, which employed 65,621 workers, on the list of 100 BEST Companies in 2021.
“12 companies operated positively, of which four are among the hundred most profitable companies, while seven public companies operated with a net loss, five of which are on the list of the biggest losers. Of the hundred companies with the highest business income, six are public companies, and 14 are among those with the most valuable business assets and capital.”
The biggest net gain, along with the already mentioned JP Srbijagas (23rd place), was realized by JP Pošta Srbije, JKP Beogradske elektrane, and JP PEU Resavica, which are in 28th, 35th and 37th place.
“In addition to the first-placed JP EPS Belgrade, JP Putevi Srbije (fifth place) recorded the largest net loss, as well as JP GSP Belgrade, EPS-JP TE Kosovo with PO Obilić, JP Elektrokosmet Priština,” concludes APR.