Messer Tehnogas generates excellent results in the first six months, net income of RSD 1 bn

Belgrade-based Messer Tehnogas is the first company at the Belgrade Stock Exchange which has half-yearly financial statements which are now mandatory for companies on a regulated market, as the law on capital market announced.

In 1H2012, Tehnogas generated operating income of RSD 2.7 bn, which is an increase of 4.3% compared to the same period last year. Operating profit totaled RSD 807.2 mil (growth of 22.1%), while net profit, due to higher financial income, and was almost twice as high and totaled USD 1bn.

Speaking in consolidation terms, Messer Tehnogas generated business growth. Consolidated operating income was 3.7 bn (growth of 6.7%), while consolidated net profit was higher by 64.4%and totaled RSD 705.6mil.

In the notes of the financial statements Tehnogas management pointed out that the greatest threat to the company in current year is a withdrawal of its largest customer(U.S. Steel) which might contribute to lower revenue and profit than planned.

Otherwise, the management prior to U.S. Steel withdrawal was forecasting operating revenue of5.2 bn.

Tehnogas shares ended today`s trading at the BSE at RSD 3,200, which is adequate to company market capitalization of RSD 3.3 bn (EUR 28.2 mil).