Elixir Group, a Serbian industrial group, invested €179 million during 2025 and increased its workforce by approximately 300 employees. The company said the spending continued one of the largest private-sector industrial investment cycles under way in Southeast Europe. Elixir’s expansion is being carried out alongside its broader Prahovo 2027 transformation strategy.
Prahovo 2027 transformation and investment cycle
The Prahovo 2027 programme is designed to reshape Elixir from a regional fertilizer producer into a diversified industrial and energy platform. The strategy places emphasis on export markets, decarbonisation and advanced chemical production. The company estimates its investment cycle at more than €300 million, covering new production facilities, energy infrastructure and environmental projects.
Elixir’s investment scale places the group among Serbia’s most active industrial investors. The company’s expansion comes as many European manufacturers remain cautious due to weak industrial demand, elevated financing costs and carbon compliance requirements. Much of the capital expenditure is concentrated in Prahovo.
New capacities for fertilizers and chemical processing
In Prahovo, Elixir is developing new capacities for crystalline and specialty fertilizers. The company is also expanding phosphoric acid processing and other higher-value-added chemical products. The projects are expected to support Serbia’s role within European fertilizer and industrial chemical supply chains.
Elixir said the programme is intended to increase export capacity to markets across Europe, Asia and the Mediterranean. The expansion is linked to the group’s long-term decarbonisation strategy. Elixir previously announced plans to invest in renewable energy generation, battery storage and waste-to-energy facilities.
Decarbonisation plans and CBAM preparation
The decarbonisation measures are aimed at reducing carbon intensity and preparing for the implementation of the European Union’s Carbon Border Adjustment Mechanism (CBAM). Elixir said it has been pursuing these initiatives as part of its broader transformation programme. Construction activity is continuing across Prahovo and other production sites.
The company also reported that employment growth is a central element of the investment programme. It added roughly 300 new jobs during 2025, bringing its industrial workforce to more than 1,800 employees. Recruitment has included engineering, maintenance, process technology and logistics roles as new facilities move through construction and commissioning phases.
Green bond issuance and financing structure
Elixir said its investment drive has been supported by a diversified financing structure combining bank lending with capital-market instruments. During 2025, it completed a corporate green bond issuance in Serbia worth approximately €35 million. The company said investor demand was strong for what it described as one of the most significant private-sector sustainable finance transactions on the Belgrade capital market.
The financing approach has also involved international lenders. Elixir worked with major European financial institutions, including projects supported through international development finance structures . The company said recent financing arrangements involving major regional banks strengthened liquidity for ongoing expansion programmes .
Revenue performance and export mix
Elixir reported revenue of nearly RSD 60 billion during 2025 while maintaining profitability amid significant capital expenditures. The group said exports expanded alongside its financial results. It reported that European markets account for almost half of total sales.
The company also stated that Asian markets recorded particularly strong growth during 2025 . For Serbia’s industrial sector, Elixir’s expansion was described as large-scale domestic capital deployment into advanced manufacturing. The group said its programme reflects increased participation by Serbian-owned industrial groups in export growth and technological upgrading .
