Telekom Serbia company among 5 worst loss-makers

Arena Channels Group was ranked 5th biggest loss maker last year with reported losses of 7.9 billion Dinars (1 Euro – 117 Dinars). Arena Channels Group is fully owned by Telekom Serbia whose majority shares are owned by the government. According to the Serbian Business Registry (APR) data, its losses are 36.9 percent lower than a year earlier.

An APR press release said that Arena Channels Group gave jobs to 150 more people than a year earlier, bringing its total workforce to 427.

It said that the company’s cumulative losses stand at 26.41 billion Dinars.

The other four biggest loss makers in Serbia are HIP-Petrohemija Pancevo with losses of 18.3 billion Dinars, HBIS Group Serbia Iron & Steel with losses of 16.5 billion Dinars, RIO Sava Exploration with losses of 11.6 billion and Continental Automotive Serbia Novi Sad with losses of 9.5 billion Dinars.