Petroleum Industry of Serbia NIS (NIIS)
NIS (NIIS) reported RSD 7.7bn in 9M 2016 consolidated net profit, down 29.4% y/y, on lower EBITDA, which was down 30% y/y, to RSD 22.5bn, on lower oil prices. On a quarterly basis this gives RSD 4.5bn net profit, down 23.7% y/y, on lower sales and lowered EBITDA. The result from the first half of the year, when the net profit was RSD 3.1bn (due to poor 1Q), was actually improved. The positive results achieved are largely attributed to the implementation of the operational efficiency improvement programme, the effects of which in the first nine months of 2016 are estimated at RSD 5.7bn. Consolidated sales in 9M 2016 arrived at RSD 134.1bn, down 16% y/y. Production was down 7%, but still slightly higher than expected, while physical volume of sales was increased by 3% to 2.3mt. CAPEX was reduced by 24%, to RSD 14.5bn, while OCF was down 50% to RSD 18.2bn. The company increased its share in the Serbian retail market by 1.3pp in comparison to the same period last year, and it now amounts to 42.7%. Oil&gas reserves increased by 3.7%, according to the company’s estimates.​
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.
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