Bosnia and Herzegovina: Top fuel retailers’ profit increased in 2020

, SEE Energy News

The three largest fuel retailers in Bosnia and Herzegovina recorded combined profit of more than 20 million euros. Three companies within the Tesanj-based Hifa Group made a profit in 2020 in the amount of some 10 million euros, compared to a profit of 13 million euros a year before. Immediately after Hifa Group, in terms of net profit, comes Petrol BH Oil Company, a subsidiary of Slovenian Petrol, with a profit of some 5 million euros, compared to 6 million euros in 2019

Next comes Bijeljina-based company Neskovic, which recorded a profit of 4.8 million euros in 2020, while in the year before its profit amounted to 7 million euros. NIS Petrol Banja Luka, a subsidiary of Serbian NIS, recorded a net profit of some 122,000 euros in 2020, compared to 400,000 euros profit in 2019. G-Petrol Sarajevo, owned by Russian Gazprom, earned around 110,000 euros in 2020, significantly less compared to 3.2 million euros profit recorded in the previous year.

However, some fuel retailers failed to remain profitable in 2020. Nestro Petrol recorded a net loss of 0.88 million euros in 2020, compared to a profit of some 2 million euros in 2019. Krajinapetrol recorded a loss of around 115,000 euros, compared to 800,000 euros profit in the previous year.