Serbia, Fintel Energija said that it has recorded a net profit in the amount of 7.7 million euros in 2021

, News Serbia Energy

Serbian subsidiary of Italian Fintel Energia Group – Fintel Energija said that it has recorded a net profit in the amount of 7.7 million euros in 2021, significantly higher compared to a profit of some 200,000 euros in the previous year.

The statement from the company said that its revenues rose by 38.5 % in 2021 to 21.1 million euros, while its financial expenditures also rose from 9.4 million euros to 10.5 million euros last year. The company’s operating profit rose to 10.5 million euros, compared to 5.85 million euros in 2020.

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.