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 ca...