Serbia, Fintel Energija has recorded a net profit in the amount of 4.8 million euros

, News Serbia Energy

Serbian subsidiary of Italian Fintel Energia Group – Fintel Energija said that it has recorded a net profit in the amount of 4.8 million euros in the first half of 2021, compared to a net loss of some 900,000 euros in the same period last year.

The statement from the company said that its revenues rose by 78 % in the first six months of the year to 11 million euros, while its expenditures also rose from 4.2 million euros in H1 2020 to 4.8 million euros this year.

Fintel Energija successfully completed the first initial public offering (IPO) on the Belgrade Stock Exchange since 1940 on 31 October 2018. The

company raised 6.4 million euros through the IPO, in which investors subscribed for 1,510,506 shares at an issue price of 4.2 euros per share.

The company recorded a net profit in the amount of some 200,000 euros in 2020, which is by 84.2 % lower compared to 2019.