Clarion Partners - Owner's Engineer

NIS plans to turn RSD 15.5 billion profit in H2 2011

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The Petroleum Industry of Serbia (NIS) has announced its business plan for the second half of this year. According to the plan, the company expects its earnings before interest, taxes, depreciation, and amortization (EBITDA) to amount to RSD 30.4 billion, whereas the net profit is expected to reach the level of RSD 15.5 billion.

The management of NIS is famous for its quite conservative business plans, so that its expectations for EBITDA and net profit for the first six months of this year were exceeded by 26% and 77%, respectively.

NIS registered RSD 32.2 billion worth of EBITDA in the first nine months of this year (88% more than in the same period last year), whereas the net profit amounted to RSD 27.1 billion and was 10 times higher than in the period January-September 2010.

NIS shares on the Belgrade Stock Exchange have gained 33.3% in value since the beginning of the year. At the latest price of RSD 633 per share, this company’s market capitalization amounts to RSD 103.2 billion (EUR 1.01 billion). 



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