Sitemap

APR Report 100 BEST Companies in Serbia: Zijin Mining Bor The Most Profitable

CorD Recommends

Concept Mercedes-AMG PureSpeed

Exciting, energising and breathtaking – the Mercedes‑AMG...

Serbia Ascends as Key Trade Partner for Germany

Serbia is set to become a net...

Belgrade Students Triumph at Danube Cup 2024 in Austria

A team of innovative students from the University of Belgrade has claimed first place at the prestigious Danube Cup...

DM Celebrates 20 Years of Business in Serbia

On the occasion of its significant anniversary, two decades of successful operations in Serbia, dm drogerie markt organised a...

New Joint Venture Forms to Revolutionize Balkan Logistics

In a strategic move to enhance logistics operations in the Western Balkans, Transfera, a leading logistics company in the...

Concept Mercedes-AMG PureSpeed

Exciting, energising and breathtaking – the Mercedes‑AMG PureSpeed concept is the highlight in the run-up to the Formula 1™...

Western Balkans Chambers of Commerce Sign Tourism Cooperation Memorandum in US Congress

A landmark Memorandum of Cooperation has been signed at the US Congress, uniting the Chambers of Commerce of the...

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.

MK Agrounija, a member of the MK Group

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.

NIS rafinerija u Pančevu, Foto: NisAdNoviSad/facebook

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.

Read more...

German Companies Looking For Suppliers From Serbia, Western Balkans Countries

The German-Serbian Chamber of Commerce (AHK Serbia), representatives of the German economy in the countries of the Western Balkans, the Chamber of Commerce of...

Nordic-Serbian Partnership for Renewable Energy

Led by Norwegian Embassy in Serbia, the second in a series of events "Nordic Green - Solutions for Serbia" was held at the Science...

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.

Related Articles

Serbia Ascends as Key Trade Partner for Germany

Serbia is set to become a net exporter to Germany by 2025, overtaking its imports from the economic powerhouse, according to a recent study...

Serbia and Romania to Forge Gas Link by 2026

Serbia and Romania have announced plans to construct a gas interconnection by 2026, enhancing energy cooperation and supply security between the two nations. The...

Golubac Marks Milestone with Inauguration of Eastern Serbia’s First Wind Farm

In a significant development for Serbia's renewable energy sector, Golubac celebrated the grand opening of the "Krivača" wind farm, marking the region's first venture...

Serbia and Albania Witness Significant Trade Surge, Reaching 311.4 Million Euros in 2023

Serbia and Albania saw a notable boost in trade exchange, hitting 311.4 million euros in 2023, an 8% increase from the previous year. Exports...

Serbia and Ukraine Strengthen Ties During High-Level Visits

During a significant visit by Olena Zelenska, the wife of Ukrainian President Volodymyr Zelenskiy, and Ukrainian Foreign Minister Dmytro Kuleba, Serbia has pledged its...

Ukraine’s First Lady Visits Serbia in Historic Diplomatic Move

Ukraine's First Lady, Olena Zelenska, arrived in Belgrade on Sunday, marking a historic visit as the first top Ukrainian official to visit Serbia since...

Mercator-S Becomes Serbia’s First “Green” Retail Chain

In a groundbreaking move towards sustainability and environmental protection, Mercator-S has become Serbia's first "green" retail chain by exclusively using electricity generated from renewable...

EU Delegation Hosts Europe Day Celebration in Belgrade

Emanuele Giaufret, head of the European Union delegation, hosted a reception celebrating Europe Day, which honours peace and unity on the continent. The event...