Srbijagas posts very good results in 2019

Srbijagas operations in 2019 were marked by positive trends and improvement of the majority of performance indicators, the company said after a meeting of its Supervisory Board.

25 Februar 2020 18:54

NOVI SAD - Srbijagas operations in 2019 were marked by positive trends and improvement of the majority of performance indicators, the company said after a meeting of its Supervisory Board.

Collection of current receivables stood at 92 pct last year, when collection of overdue receivables from previous years also rose significantly.

Srbijagas achieved a higher physical volume of transported and distributed natural gas and, in consequence, positive financial results in terms of operating profit and net income, said a statement released after the meeting, at which a report on the implementation of the annual plan of operations was adopted.

Even though the purchase price of imported natural gas had a slight tendency of growth, regulated sales prices saw no major changes in 2019, the company said.

"Thanks to a streamlining of expenditures and a revenue increase, we managed to achieve a very good result," said Supervisory Board President Muamer Redzovic.

The construction of a trunk gas pipeline-interconnector in Serbia from the Bulgarian to the Hungarian border was the highlight of 2019 and the Serbian stretch of the pipeline was laid in a record short amount of time, it also said.

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