NIS reports RSD 0.3bn in 1Q16 net profit

(Photo: nis.rs)

The company’s sales in 1Q16 came in at RSD 35.2bn, down 24% y/y, on lower prices, while EBITDA decreased 48% y/y to RSD 3.8bn, probably due to the drop in production by 5% y/y (which is in line with planned) and worsen profitability. Operating cash flow arrived at RSD 3.6bn, down 20% y/y. Processed volume was up 13% y/y, while physical volume of sales is higher by 3%.

Retail market share was increased from 42% to 44%, while for the wholesales segment there was a drop from 76% to 74%.

CAPEX for 1Q16 stands at RSD 4.6bn, down 7.1% y/y. In April this year, the company generated RSD 1bn in net profit. Amount of debt the company has in USD is at 633m, down 6% y/y.