Montenegro: Pljevlja coalmine profit 9.4 million euros in 2022

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Pljevlja coalmine recorded a net profit in the amount of 9.4 million euros in 2022, significantly higher compared to 3.7 million euros profit in the same period last year.

Coalmine’s sales revenues reached 54.7 million euros in 2022, which is by 26% more than in 2021. Operating expenses rose by 28%, reaching 27 million euros, according to the financial report.

In April 2018, power utility EPCG announced that it has launched a buyout bid for the entire capital (5 milion shares) of Pljevlja coalmine. The bid was valid in the period between 20 April and 4 May and EPCG offered to pay 6.4 euros/share of the coalmine.

According to the analysis performed by Deloitte, which said that although the price of Pljevlja coalmine shares stood at 6.9 euros at the end of 2017, the fair price is 6.4 euros/share. According to the decision of the Commission for the Capital Market in early June, EPCG became the majority owner of Pljevlja coalmine.

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