Montenegro: Coal Mine Pljevlja marks net profit of 1.2MEUR

9. April 2014. / SEE Energy News

The Coal Mine Pljevlja finished last year with a net profit of 1.2 million euros, while in 2012 recorded a loss of 1.22 million euros. The state owns 31.11 percent stake in the Coal Mine, Italian company A2A has 39.49.

According to the Report on operations, which was published on the website of the Securities and Exchange Commission (SEC), operating revenues of the Coal Mine at the end of December were 44.35 million and 5.1 percent were lower than in the comparative period.

Business expenditures of the company at the end of last year fell 10.9 percent to 40.78 million euros. Salaries, benefits and other personnel expenses have reached 16.64 million euros, 10.62 million euros for materials and depreciation and provisions 6.88 million eros. Other operating expenses were  6.64 million euros.

Total assets of the Coal Mine at the end of last year was 89.4 million euros, which was 8.8 percent less than in the competitive same period .

Accumulated losses reached 20.76 million euros, long-term provisions and liabilities were 27.76 million and short-term provisions and liabilities were 42.24 million euros.

The state owns 31.11 percent stake in the Coal Mine, Italian company A2A has 39.49 percent, businessman Aco Djukanovic has 11.76 percent, and Radoslav Tomic from Belgrade has 1.06 percent. Other shareholders have less than one percent stake in the company.

Source; Serbia Energy See Desk

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