Pljevlja Coalmine reported a net loss of €3.8 million in the first half of 2024, a sharp decline from the €1.13 million profit recorded in the same period last year. According to the company’s financial report, sales revenues for the first six months of 2024 fell by 15.5%, reaching €22.7 million, compared to the same period in 2023. Meanwhile, operating expenses increased by 4%, totaling €26.9 million.
As of the end of June 2024, the total assets of Pljevlja Coalmine were valued at €125.4 million, marking a 7.5% increase from the end of 2023. The company’s long-term provisions and liabilities amounted to €18.3 million, while short-term liabilities stood at €13.3 million. Retained earnings were approximately €37.4 million.
In April 2018, Montenegro’s power utility, EPCG, launched a buyout bid for the entire capital of Pljevlja Coalmine, consisting of 5,064,443 shares. The bid, which was valid between 20 April and 4 May, offered €6.4 per share. According to Deloitte’s analysis, although Pljevlja Coalmine shares were valued at €6.9 at the end of 2017, the fair price was assessed at €6.4 per share. Following the decision by the Commission for the Capital Market in early June, EPCG became the majority owner of Pljevlja Coalmine.
