Zijin, MK Group report top profits, EPS biggest loss maker

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Zijin Mining and the MK Group reported the highest profits in 2021 and the Serbian power company EPS reported the highest losses, the Serbian Business Registers Agency said in its annual report.

The report said that Zijing Mining reported net profits of 34.36 billion Dinars (1 Euro – 117 Dinars) or almost 13 times more than a year earlier thanks to the production and sales of copper concentrate which brought an income of 5507 billion Dinars.

The MK Group reported net profits of 26.16 billion or almost 10 times more than in 2020. “The company is registered for holding company activities and the higher net profits are from intensive financial and other activities including income from dividends,” the report said.

The HBIS Group increased its production and doubled its income to 130.58 billion Dinars while the Serbian Oil Industry (NIS) reported an income of 281.05 billion. The APR report said that Delhaise Serbia and Srbijagas are also on the list of 10 most profitable companies.

The report said that the EPS, the largest state-owned company in Serbia, reported losses of 10.95 billion Dinars. EPS reported an income of 319.68 billion Dinars (an increase of 12.6 percent) accounting for 2.2 percent of the total income by the entire economy. The APR report said that the upsets on the global energy market and problems with electricity production increased expenses by 26.5 percent causing the losses. EPS employs 1.9 percent of employees in Serbia (23,507 people or 971 less than in 2020).

The APR list of 100 top companies includes 19 state-owned (public in Serbian) companies that employ 65,621 people. “Twelve companies reported profits including four among the most profitable and seven reported losses, including five on the list of biggest loss makers. Among the state-owned companies, the highest profits were reported by Srbijagas, the Serbian Post, JKP Beogradske Elektrane while the biggest loss makers are the roads company JP Putevi Srbije, Belgrade transport JKP GSP, EPS-JP TE Kosovo, JP Elektrokosmet Pristina, the report said.