The Pljevlja coal mine operated positively last year and achieved a profit of 4,42 million euros, according to the company's management report. This is still a three times weaker result compared to 2020, when that company, which is 100 percent owned by Elektroprivreda Crne Gore (EPCG), made a profit of 13,1 million.
The total capital of the company, whose main product is coal intended for industrial and consumer consumption, increased from 60,5 million to 65,1 million euros, while retained earnings decreased from 25,07 million at the end of 2020 to 16,6 million. due to dividend payment.
"The extension of the planned annual overhaul of the Thermal Power Plant (TE)" Pljevlja" in the second quarter and unplanned stoppages, as well as limitations in the delivery of coal, bad weather conditions, narrowed space for the progress of mining works, the usual problem of the lack of spare parts for mining equipment and machinery affected that the production results will be lower than planned and lower than achieved in 2020", according to the report of the company's management.
In the structure of the company's total revenues, which amounted to 49,8 million last year, the most significant place belongs to revenues from the sale of coal in the amount of 43,3 million euros, which is a total of four percent less compared to 2020.
"Revenues from the sale of coal for thermal power plants were lower by 10,8 percent, and revenues from sales on the consumer market were higher by 48,2 percent compared to 2020," the report says.
As for expenditures, they totaled 44,3 million euros and were 28,6 percent higher than in 2020, but also 14,5 percent lower compared to the expenditures determined by the innovated plan.
"It should be noted that the larger differences in the realization of income and expenditure compared to the planned or realized in the previous period are a consequence of the assessment of fixed assets with the balance on 31.12.2021/3,68/6,88. year, the effects of which influenced an increase in income by the amount of XNUMX million euros and an increase in expenses by the amount of XNUMX million euros", the management announced.
14,74 million euros were spent on salaries and employee benefits, which is 9,4 percent more than in 2020, and the share in total expenditures is 39,7 percent.
The average number of employees in the company was 776 with an average net salary of 767 euros, and an additional 113 workers were hired through the agency, for which we allocated 1,49 million, who received an average of 579 euros. In addition, fees under work contracts cost 345 euros, which is 7,2 times the amount realized for the same period in 2020. As explained by the management, the increase in these fees is a consequence of the formation of commissions for the analysis of certain business segments of the company in the previous period, as well as the hiring of people to perform seasonal work.
Coal production was realized last year in the total amount of 1,54 million tons, which is 4,8 percent less than the plan and 6,5 percent less than in 2020.
87,85 percent of the total coal produced by the "Pljevlja" TE was delivered, the other 10,64 percent to customers from the region and only 1,51 percent to customers from Montenegro.
"It can rightly be said that, despite all the challenges, the Coal Mine, together with EPCG, was and remains the main pillar of the energy system of Montenegro, that is, its industrial and economic basis," said the management.
The total production of electricity in the previous year was 3.648 GWh, where the largest share was the "Pljevlja" thermal power plant with 36,53 percent, the Perućica hydroelectric power plant with 27,11 percent, the Piva hydroelectric power plant with 22,9 percent, wind power plants with 8,79 percent and small ( hydro and solar) power plants with 4,58 percent.
During 2021, the company paid a total of 20,4 million obligations to the state and local self-government, and the management said that the company has no outstanding tax or credit obligations.
The Budva Riviera has a deficit of 2,2 million euros
Hotel Group (HG) Budva Riviera ended the year 2021 with a negative business result of 2,2 million euros, with which it continued to operate negatively because during the year 2020, which was marked by the pandemic, it made a loss of over nine million euros.
With that result, the company has an undistributed loss of 725, and the company's capital was reduced by 2,5 million to 126 million.
Revenues were over ten million, four times more than in 2020, but business expenses also increased from 6,748 to eight million. In addition, 5,257 million was spent on wages, ten percent more.
The Government of Montenegro owns 41,64 percent of the shares in HG Budvanska Riviera, the PIO Fund 12,82 percent, the Employment Agency 4,27 percent, along with several other minority shareholders.
The members of the MK Group system, headed by the well-known Serbian businessman Miodrag Kostić, bought 12,1 percent of the company's shares from Strateks Group on the stock market in the middle of last year, increasing their share of ownership to 28,7 percent.
And the Port of Kotor in loss
And the Port of Kotor did not fully recover from the impact of the pandemic because it ended the previous year with negative business. A minus of 955 thousand was realized, which is twice less than in 2020.
Business income increased from 213 to 940 thousand, but expenses amounted to 1,895 million, of which even more than half of the share was spent on employee wages, that is, slightly more than one million euros went to 67 employees.
In this company, the Municipality of Kotor has a 57 percent share, and the PIO Fund has 17,50 percent.
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