decreased revenue

NIS reports decreased revenue and profitability in 2024 amid sanctions and operational challenges

Amid expectations regarding the fate of the Oil Industry of Serbia (NIS) following the imposition of U.S. sanctions, the company has released its annual business results, which were anticipated to be less favorable compared to the previous year. In 2024, NIS saw a slight 1% decline in revenue, totaling 408.1 billion dinars. This drop occurred despite a decrease in natural turnover and a 2% lower Brent oil price compared to the previous year, according to an analysis by Momentum Securities…