Big drop in profit of Messer Tehnogas due to new write-offs – Revenues increase to RSD 7.6 billion in 2016

The Belgrade-based producer and distributor of technical gases Messer Tehnogas has reported a huge drop in net profit, despite a two-digit revenue growth rate and stable operating results.

The company had operating revenues of RSD 7.6 billion in 2016, a growth of 12.2% compared to 2015, whereas the operating profit dropped by 2.7% to RSD 1.6 billion.

Similar to 2014, though to a smaller extent, the write-offs amounting to RSD 515.6 million brought the net profit down by 42.9% to slightly over RSD 1 billion.

In 2015, Tehnogas had a record profit of RSD 1.8 billion, fully paid to the shareholders as dividend, which was one of the main reasons for the stock's impressive growth.

Tehnogas' shares jumped by nearly 50% last year, whereas the YTD growth amounts to 6.5%. The company's market cap at the latest price of RSD 13,900 amounts to RSD 14.4 billion (EUR 116.2 million), Wisebroker reports.

Messer Tehnogas ad Beograd

Messer Tehnogas

production of technical gases

technical gases

Messer Tehnogas revenues

Messer Tehnogas profit

Messer Tehnogas expenditures

Messer Tehnogas dividend

Messer Tehnogas shares