In the first half of 2023, NIS Group recorded net profit of 116.8 million euros, which is 69% less compared to the result for the first six months of 2022. At the same time, EBITDA decreased by 57%, to 243 million euros.
The calculated obligations of the NIS Group based on public revenues in the first half of the current year are 912 million euros. The total volume of oil and gas production is 571 thousand tons, while 1.976 million tons of crude oil and semi-products were processed in the Pancevo oil refinery. The turnover volume of oil products in the reporting period was 1.869 million tons.
NIS Group’s priorities in the first six months were keeping stability in the oil products market and continued investment in capital projects. 99 million euros were invested in the development of NIS, which is 52% more than in the same period last year.
Most of the funds were invested in the exploration and production of oil and gas, as well as further increasing the processing efficiency at the Pancevo oil refinery and continued streamline of the retail network. The financial and business results of the NIS Group achieved in the first half of 2023 are in line with the complex macroeconomic circumstances and market trends, among which the drop in the prices of oil and oil products has the greatest impact. The average price of Brent oil in the reporting period was 79.8 dollars per barrel – 26% less compared to the average price in the same period last year.
