Messer Tehnogas expects income of RSD 7.04 billion in 2017 – Investments worth RSD 1 billion planned

The producer and trader of technical gases, Messer Tehnogas, has published its annual report, which states that the company signed a long-term agreement with Hesteel, owner of Zelezara Smederevo, on June 28, 2016, which the management has estimated to be the biggest risk in the companies operations in 2016.

Furthermore, the company has announced that it expects sales to reach RSD 7.04 billion this year, and that investments will amount to RSD 1 billion.

The consolidated income amounted to RSD 8.5 billion in 2016, a growth of 6.9%, whereas the operating profit remained at RSD 1.9 billion.

The consolidated net profit dropped by 64.4% to RSD 1.3 billion in 2016, as a consequence of high unexpected revenues from the sale of the Turkish office in 2015, but also due to write-offs of RSD 515.6 million in 2016.

Tehnogas shares reached an all-time high of RSD 14,000 in December 2016, whereas the numbers for 2016, reported in late March, and the recent announcement of a lower dividend have brought them down to around RSD 11,200, Wisebroker reports.

Messer Tehnogas ad Beograd

HBIS GROUP Iron & Steel d.o.o. Beograd

Železara Smederevo d.o.o.

production of technical gases

Hesteel

Messer Tehnogas income

Messer Tehnogas investments

Messer Tehnogas profit

Messer Tehnogas dividend