Serbia's Fintel Energija cons net profit declines in 2020

BELGRADE (Serbia), May 6 (SeeNews) – Fintel Energija [BEL:FINT], the Serbian subsidiary of Italy's Fintel Energia Group, recorded a consolidated net profit of 22.8 million dinars ($233,000/194,000 euro) in 2020, down from 144.1 million dinars in the previous year.

The company's operating profit doubled to 686.9 million dinars last year, up from 398.8 million dinars in 2019, Fintel Energija said in a filing with the Belgrade Stock Exchange on Wednesday.

Revenue grew to 1.8 billion dinars from 881 million dinars, whereas expenses went up to 1.1 billion dinars from 482.2 million dinars, Fintel Energija said.

Fintel Energija's shares last traded on the Belgrade bourse on April 29, closing down 1.4% at 635 dinars in a volume of 1,000.

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

(1 euro = 117.534 dinars)

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