Bosnia and Herzegovina: Net loss at Energopetrol in first half of the year

, SEE Energy News

Compared to a profit of 450,000 euros in the same period last year, Bosnian fuel retailer Energopetrol recorded a net loss in the amount of some 215,000 euros in the first half of 2020. The company’s operating revenues fell by 25 % in to 31.8 million euros, while its operating expenditures also dropped by 25 % and amounted to 32 million euros.

Energopetrol recorded a net profit in the amount of some 3.4 million euros in the first quarter of 2020, compared to a loss of 1.7 million euros in the same period last year. In 2018, Croatian oil company INA has increased its stake in Energopetrol from 67 % to 88.7 %. On the other hand, the Government of the Federation of Bosnia and Herzegovina (FBiH), which previously owned 22.7 % stake in the company, now holds just 7.6 % of Energopetrol’s shares. The percentage of shares owned by smaller stakeholders has decreased slightly as well.