Report
Vladan Pavlovic
EUR 9.12 For Business Accounts Only

Petroleum Industry of Serbia NIS (NIIS)

​ NIS (NIIS) reported RSD 15bn in its FY 2016 net profit, up 2.8% y/y. This light improvement arrived on the back of better other result (lower FX loss) versus a year ago. EBITDA arrived at RSD 39.8bn, down 14.4% y/y, on lower sales and worsen profitability, while sales came in at RSD 192.1bn, down 8.8% y/y, on lower prices vs. a year ago. The results are more/less in line with previously announced by the company. Oil&gas production is down 7%, when counting in conditional t, while processed volume was up 1%. Volume of physical sales is up 3% y/y to 3.3mt. Retail sales in Serbia were up 5% y/y. Increase in oil reserves was at 3.4% y/y. Operating cash flow is down 19% y/y to RSD 41.2bn, while overall company’s debt now stands at USD 662m (down by USD 4m y/y).

Underlying
Naftna Industrija Srbije Nova Sad

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.

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Analysts
Vladan Pavlovic

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