Energoprojekt’s Nine-Month Income Increases 73% on Energy Units

Energoprojekt Holding AD (ENHL), a Serbian construction and energy company, said its nine-month net income increased 73 percent on revenue from services to the energy industry.

Net income was 545 million dinars ($6.18 million) in the period ending September, compared with 315 million dinars a year earlier, on “strong” performance of Energoprojekt Entel AD and Energoprojekt Oprema AD (ENOP), the Belgrade-based holding company said in its website today. Sales rose 15 percent to 301.7 million dinars. Earnings before interest and taxes were up 65 percent from a year earlier to 561.7 million dinars.

The bulk of the increase was achieved in the first six months of the year, it said. The diversified holding reported a 17 percent increase in revenue to about 110 million dinars and a 50 percent fall in Ebit to 28.9 million dinars in the third quarter.

Energoprojekt Holding, 33.6 percent owned by the Serbian government, comprises 10 units that have operations in 19 countries, ranging from highway, rail and building construction, to consulting, energy, information technology and insurance.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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