Bosnia: Oil company Energopetrol marks net loss in 1H2014

Published on 6. October 2014., SEE Energy News

Energopetrol Sarajevo has achieved net loss of 2,7 MEUR in the first half of this year, which is less than the same period last year, when it reported a loss of 3,5 MEUR.

Energopetrol achieved operating revenues of 40 MEUR in the first half of the year, which is a slight increase over the previous year, when revenues amounted to 44, 5 MEUR.

The increase in operating income was affected by sales growth both in domestic and foreign markets. The company achieved operating expenses of 41, 7 MEUR in the same period, compared to 42, 4 MEUR in the same period last year.

The decrease in operating expenses was mostly influenced by lower costs of salaries and other emoluments of employees which amounted to 4, 4 MEUR compared to 4, 6 MEUR a year earlier.

Loss from operations was 2, 7 MEUR and it decreased compared to the same period last year when it stood at 2, 85 MEUR.