Pljevlja coal mine recorded a net profit of around 450,000 euros in 2025, a sharp decline compared to 15.06 million euros in the previous year, reflecting a significant deterioration in financial performance.
According to the financial report, the company’s sales revenues reached 32.4 million euros in 2025, which is 50.4% lower than in 2024. At the same time, operating expenses increased slightly to 29.7 million euros, further pressuring profitability.
Despite weaker results in the income statement, the company’s total assets rose to 175.4 million euros at the end of December 2025, marking an increase of 18.7% compared to the end of 2024. Long-term provisions and liabilities stood at 25.8 million euros, while short-term liabilities amounted to 25.5 million euros. Retained earnings were reported at approximately 44.8 million euros.
In April 2018, the power utility EPCG announced a takeover bid for the entire capital of Pljevlja coal mine, consisting of 5,064,443 shares. The offer period ran from 20 April to 4 May, with EPCG proposing a price of 6.4 euros per share.
According to an analysis conducted by Deloitte, although the share price stood at 6.9 euros at the end of 2017, the fair valuation was assessed at 6.4 euros per share.
Following the decision of the Capital Market Commission in early June, EPCG became the majority owner of Pljevlja coal mine, finalizing the acquisition process and securing control over the company.
