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MarketScreener Homepage  >  Equities  >  Belgrade Stock Exchange  >  Naftna Industrija Srbije a.d.    NIIS   RSNISHE79420

NAFTNA INDUSTRIJA SRBIJE A.D.

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Naftna Industrija Srbije : New plant in the Pančevo oil refinery officially put into operation

11/19/2020 | 03:09am EST

'Bottom of the Barrel' Project for larger quantities of the highest quality fuels and the beginning of domestic production of petroleum coke

A bottom of the barrel plant with delayed coking technology, a project worth more than 300 million euros, was officially put into operation today at the Pančevo oil refinery. With the construction of a new production complex, NIS, in cooperation with leading shareholders, the Russian company 'Gazprom Neft' and the Republic of Serbia, continued with the constant modernization of the Pančevo oil refinery and efforts to improve the quality of work processes, products and services.

The 'Bottom of the Barrel' project brings numerous environmental, business and other benefits to NIS, the Republic of Serbia and its citizens. The new complex enables optimal utilization of the capacity of the Pančevo oil refinery and an increase of refining efficiency to 99.2 percent (from 86 percent in 2017), which is in the rank of the world's best refineries according to this indicator. This will mean increased production of high-quality fuels - diesel, gasoline and liquefied petroleum gas, as well as the start of production of petroleum coke, a product that has been imported into our country so far. Also, the protection of the environment will be significantly improved because the production of fuel oil with a high sulphur content will stop. On the other hand, with this project, NIS will strengthen its position as a leader in the domestic market and strengthen competitiveness in the regional market of petroleum products. The new plant employs 63 new employees, while domestic contractors accounted for 80 percent of the workforce engaged during the construction of the complex.

Disclaimer

NIS AD Novi Sad published this content on 19 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2020 08:08:02 UTC


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Financials
Sales 2020 147 B 1 525 M 1 525 M
Net income 2020 -5 185 M -53,7 M -53,7 M
Net Debt 2020 51 650 M 534 M 534 M
P/E ratio 2020 -19,3x
Yield 2020 -
Capitalization 101 B 1 044 M 1 044 M
EV / Sales 2020 1,04x
EV / Sales 2021 0,97x
Nbr of Employees 7 629
Free-Float 100%
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Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 661,00 RSD
Last Close Price 619,00 RSD
Spread / Highest target 13,4%
Spread / Average Target 6,79%
Spread / Lowest Target 0,16%
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Managers and Directors
NameTitle
Kirill Vladimirovich Tyurdenev Chief Executive Officer & Director
Vadim Vladislavovich Yakovlev Chairman
Maxim Kozlovsky Deputy CEO, Director-Material & Technical
Danica Draškovic Non-Executive Director
Alexandar Vladimirovich Krylov Non-Executive Director
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