NIS performance in 9M 2018

November 14, 2018

In this reporting period NIS further improved its financial and business performance, along with the continued delivery of strategic projects ensuring continued development and modernisation of the NIS Group. The net profit generated in the first 9 months of 2018 is RSD 21.7 billion, 8 per cent more than the net profit generated a year ago. Growth has also been accomplished in terms of the 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 has invested RSD 27.3 billion, which is 64 per cent greater than the first 9 months of 2017. The focus of NIS in terms of investment was on the exploration and production of oil and gas, as well as on the completion of the “Bottom-of-the-Barrel” project, pivotal for stage two of the 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 month report this year was 2,769 million tonnes, 6 per cent more than in the same period for the previous year. The overall volume of oil products sales is 2,741 million tonnes, which is 10 per cent better than the first 9 months of 2017. In 2018, NIS also recorded a growth in oil product exports of 20 per cent compared to the previous year. In the first 9 months of this year, 999 thousand tonnes of oil and gas equivalent were produced.  The NIS Group liabilities concerning taxes and other public revenue in the first 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 from 2017.  Kirill Tyurdenev, CEO of 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 month report this year. The coming period shall also see our commitment to further efforts to boost the efficiency of business operations in the NIS Group and so capitalise the positive results accomplished so far this year and to meet the objectives set out in our Development Strategy.“