NIS Group presented 2016 operating results at Belgrade Stock Exchange The results were presented by Anton Fedorov, Deputy CEO and Director of Finance, Economics, Planning and Accounting. He pointed out that NIS made a net profit of 15 billion dinars in 2016, which is 3 per cent more than the year before. Investors and brokers were told that when it comes to the segment of exploration and production in 2016, the company managed to achieve the planned output of hydrocarbons, while simultaneously increasing its reserves by 3.4% and total volume of oil refining by 1 per cent compared to 2015. Fedorov underscored that NIS Group continued to successfully implement the operational efficiency improvement programme in all business segments, the effect of which amounted to 8.6 billion dinars in 2016. The results were presented by Anton Fedorov, Deputy CEO and Director of Finance, Economics, Planning and Accounting The end of the presentation highlighted the 2017 plans, i.e. that NIS is going to continue investing in exploration and production to increase the resource base, whereas the focus in refining is going to be on continuing to implement the second stage in the modernisation of refining capacities and projects aimed at increasing operational and energy efficiency. When it comes to sales, NIS is planning further development of the retail network in Serbia and the region, and business diversification in the field of energy. Following the presentation, the Director of Finance, Economics, Planning and Accounting answered many questions of the professional audience.
