Jugopetrol increases net profit by 51.7% in 2017

The oil company Jugopetrol ended 2017 with a net profit of EUR 7.63 million, an increase by 51.7% compared to 2016.

The company's operating income, according to the report published on the Montenegroberza website, grew by 16.5% to EUR 135.14 million, and its expenses rose by 16.8% to EUR 127.06 million.

The majority of the expenses, EUR 111.56 million, is down to the procurement value of the goods sold.

Wage, compensation and other personal expenses amounted to EUR 3.46 million, amortization and reservations expenses equaled EUR 2.33 million, and material expenses amounted to EUR 657,500. Other operating expenses amounted to EUR 9.05 million.

The total assets of Jugopetrol amounted to EUR 103.9 million at the end of December, an increase by 4.8% y-o-y.

The non-allocated profit equals EUR 13.1 million, long-term reservations and liabilities amount to EUR 383,090 and short-term reservations and liabilities amount to EUR 14.02 million.

Deferred tax liabilities amounted to EUR 57,230.

Since late 2002, the majority owner of Jugopetrol has been Hellenic Petroleum International, which owns a 54.35% stake.

Jugopetrol ad Podgorica

Hellenic Petroleum Athens

NEX Montenegro Podgorica

Jugopetrol results

Jugopetrol profit

Jugopetrol operating income

Jugopetrol expenses

Hellenic Petroleum International