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    NIIS   RSNISHE79420

NAFTNA INDUSTRIJA SRBIJE A.D.

(NIIS)
  Report
End-of-day quote Belgrade Stock Exchange  -  2023-02-05
700.00 RSD   -1.41%
01/24Naftna Industrija Srbije : 195nd BoD meeting by correspondence held - NIS a.d., Novi Sad
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Nis Novi Sad : and Betec sign a Co-Operation Agreement on developing Geothermal Energy in Serbia

10/26/2016 | 09:16am EST

NIS is one of the largest vertically integrated energy companies in Southeast Europe whose principal activities are exploration, production and refining, sales and distribution of a broad range of petroleum products, as well as the implementation of energy projects. In Serbia, NIS owns a refining compound, with two units, one in Pancevo and the other in Novi Sad, an LPG production unit, as well as a network of petrol stations in Serbia and the neighboring countries. In accordance with the long term Strategy providing for the expansion of business outside Serbia, NIS has expanded its business operations to the regional markets: Bosnia and Herzegovina, Hungary, Romania and Bulgaria. NIS implements a large number of projects in the fields of electricity generation and geothermal energy.

Betec is a geothermal development company that has recently been acquired by KS Orka Renewables Pte Ltd of Singapore (KS ORKA). KS ORKA is a joint venture between Zhejiang Kaishan Compressor Co Ltd (Kaishan), which is listed on the Shenzhen stock exchange, and Hugar Orka ehf, an Icelandic company. KS Orka combines Kaishan's power plant technology with Icelandic geothermal and project development expertise to form a leading geothermal and waste energy company. KS Orka brings to the venture some of the most experienced geothermal experts and power project developers in the world.

Mr Kirill Kravchenko, NIS´s CEO, said, 'NIS aims to lead the growth of renewable energy in Serbia. For years, we develop a large number of energy efficiency projects, especially projects of cogeneration - electricity produced from gas. In cooperation with our partners, we will further develop our projects in the exploitation of geothermal resources and contribute to increasing of production of energy from renewable resources, and also contribute to energy independence of Serbia.'

Mr Kevin Cao, Kaishan's CEO, noted, 'KS Orka aims to be the leading global developer and operator of geothermal projects. KS Orka has prioritised investments in emerging economies and is targeting development of 500MW of power generation capacity over the next five years. The Co-Operation with NIS in Serbia is an important step towards achieving this goal in the Balkans.'

NIS AD published this content on 26 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 October 2016 13:16:03 UTC.


ę Publicnow 2016
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Financials
Sales 2022 292 B 2 675 M 2 675 M
Net income 2022 80 629 M 738 M 738 M
Net cash 2022 20 402 M 187 M 187 M
P/E ratio 2022 1,42x
Yield 2022 17,7%
Capitalization 114 B 1 044 M 1 044 M
EV / Sales 2022 0,32x
EV / Sales 2023 0,36x
Nbr of Employees 11 787
Free-Float 100%
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 1
Last Close Price 700,00 RSD
Average target price 677,00 RSD
Spread / Average Target -3,29%
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Managers and Directors
Kirill Vladimirovich Tyurdenev Chief Executive Officer & Director
Vadim Vladislavovich Yakovlev Chairman
Maxim Kozlovsky Deputy CEO, Director-Material & Technical
Vyacheslav Zavgorodniy Deputy CEO, Director-Strategy & Investments
Olga Vysotskaya Independent Director
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