Serbia's Fintel Energija 9-mo non-cons net loss expands

Author: MK Group. License: All rights reserved.

BELGRADE (Serbia), November 14 (SeeNews) - Fintel Energija [BEL:FINT], the Serbian subsidiary of Italy's Fintel Energia Group, said it recorded a non-consolidated net loss of 74.2 million dinars ($694,500/631,400 euro) in the first nine months of 2019, down from 41.3 million dinars in the like period of the previous year.

Fintel Energija's operating revenue rose 124% on the year to 68.2 million dinars in January-September, while operating costs went up 6.6% to 88.5 million dinars, the company said in its its nine-months non-consolidated financial statement on Thursday.

The company's operating loss expanded 42.5% to 26.5 million dinars, Fintel said.

Fintel Energija's shares last traded on the Belgrade bourse on October 29, closing at 577 dinars in a volume of 100.

In November 2018, Fintel Energija successfully completed the first initial public offering (IPO) on the Belgrade Stock Exchange since 1940.

MK Fintel Wind, a 46/54 joint venture between MK Group and Fintel Energija, launched in September the 69 MW Kosava wind farm in Izbiste, northern Serbia.

(1 euro = 117.516 dinars)

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