Montenegro: Hellenic Petroleum MNE subsidiary oil company Jugopetrol’s income is 3,6 times lower

12. April 2013. / SEE Energy News

Kotor’s oil company Jugopetrol finished last year with net profit of 2,18 million EUR which is 3,6 times less than at the end of 2011.

According to the data from business report that was published on Montenegroberza’s website, company income amounted 197, 95 million EUR at the end of December which is 3,1% more than in compared period.

Business expenditures grew for 4,2 % to 191,54 million EUR where the biggest part i.e. 174,36 million dollars referred to purchase price of sold goods.

Incomes’ expenses, fees and other personal expenditures amounted 5,59 million EUR, material expenses 1,49 million and expenses of amortization and reservation 2,9 million EUR. Other business expenditures were 7,16 million EUR.

Total assets of Jugopetrol, the company that works with oil trade and oil derivates amounted 103,1 million EUR at the end of last year and it was 3% lower than in 2011.

Unallocated company income amounts 16, 72 million EUR.

Long term reservations and obligations amounted 963, 55 thousand EUR and short term 9, 69 million EUR.

The mayor owner of Jugopetrol is Greek Hellenic Petroleum International since end of 2012 which owns 54,35 % of actions of Kotor’s company.

Source; Serbia Energy SEE desk/Jugopetrol

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