Report
Vladan Pavlovic
EUR 11.40 For Business Accounts Only

Petroleum Industry of Serbia NIS (NIIS)

​ NIS (NIIS), integrated oil&gas company, reported RSD 5.4bn in 1Q17 net profit, which is far better versus RSD 261.5m profit from 1Q16. This huge improvement arrived on the back of improved EBITDA and absence of high FX loss vs. a year ago. EBITDA in 1Q17 arrived at RSD 11.1bn, up 3 times versus a year ago, due to much better oil prices. This was in line with earlier announcement from the company’s CFO, Anton Fedorov – he was expecting RSD 5bn in 1Q for the bottom line. Quarterly sales came in at RSD 50.3bn, up 42% y/y. Production is 2% higher versus planned, to 343ths t, but down 9% y/y, while turnover amounted to 717ths t, up2% y/y. Operating cash flow was at RSD 4.5bn, up 25% y/y, due to higher petroleum products prices and higher EBTIDA, while CAPEX arrived at RSD 4.7bn (66% for upstream). Total debt towards banks at the end of 1Q17 stands at USD 659m, down 0.3%.

Underlying
Petroleum Industry of Serbia (NIS)

Provider
BDD Wise broker
BDD Wise broker

Founded in 2000, WISE Broker was one of the pioneers in the evolution of the Serbian financial market. Today, we are one of the leading brokerage institutions in Republic of Serbia.

Broker-dealer company Wise broker a.d. Belgrade has been incorporated in 2000 under the name of Senzal. In 2007, we became a member of KBC Group headquartered in Brussels when we changed our name into BDD KBC Securities a.d. Belgrade. Since July 2011, we have continued our activity as an independent investment company, providing financial services as WISE Broker .

Our team members have consistently taken leading positions in the most prominent investor surveys and provide the full range of investment services including trading, equity sales, market research, equity capital markets and corporate advisory. Strong sales and trading capabilities and global practices provide our clients with institutional and retail brokerage services. Our trading experts work closely with a range of investors from pension funds to hedge funds, providing an unparalleled view on the market. Global reach and sector specialists keep our clients well informed with unique access to information flows and perspectives. Longstanding ties with corporates allow us to offer insight and a high level of exposure to top company managements. We specialize in strategic and financial advice together with capital raising solutions for both private and listed companies. By growing partnerships, and working with these companies at all stages of their development, we’re able to help structure and execute the widest range of corporate finance solutions. WISEBroker equity research department provide insightful, objective and decisive research, designed to enable informed investment decisions. It is our task to understand industry dynamics, companies, their business segments and competitive position as to create valuable investment guidance.

Analysts
Vladan Pavlovic

Other Reports on these Companies
Other Reports from BDD Wise broker

ResearchPool Subscriptions

Get the most out of your insights

Get in touch