EPS Ahead of Serbian Economy

The Most Successful Companies in Central and Eastern Europe

(Belgrade, September 22, 2017) Electric Power Industry of Serbia was the most successful company in Serbia in 2016, according to the study of top 500 companies in central and eastern Europe prepared by the French group for credit insurance Coface. With total revenues of EUR 1.77 billion in the last year, EPS took 72nd place and it is ahead of seven ranked companies from Serbia.


Revenue increase by 43 percent compared to 2015 enabled EPS to skip 39 positions on the list and take over leading position among Serbian companies from NIS.


EPS is also better ranked on the Coface list of the most successful in Adriatic/Balkans region, including the companies from Slovenia, Croatia, Bosnia and Herzegovina, Macedonia, Montenegro and Serbia. By skipping five positions, EPS found itself on the third position of the 50 most successful in the region. At the same time, EPS is the best placed power company on the regional top 50 list, since it pushed out Slovenian GEN-I from third to fourth position with its revenues.


EPS is the largest power company in Serbia generating electricity and providing stable supply for about 3.5 million customers in Serbia. With its own generation from hydro and thermal power plants EPS meets the demand of the entire Serbian electricity market. About 70 percent of electricity is generated in lignite-fired thermal power plants with lignite from EPS' open cast mines in Mine Basin Kolubara and in Kostolac. Last year EPS generated 36.4 billion kilowatt-hours, which is the second highest electricity generation in the last 16 years. Such results were enabled by the constant investment into capacities modernization, and the highest investment in the last year was general overhaul of B2 unit in Thermal Power Plant Nikola Tesla B, one of the two largest in EPS system. Unit life-cycle was extended by additional 30 years and over 200,000 working hours, and unit capacity of TENT B2 unit was increased from 618.4 to 650 MW. EPS' thermal power plants Kostolac A and Kostolac B generated record 6.7 billion kilowatt-hours of electricity last year thus contributing to the total result. Mining sector with production of 37.7 million tons of coal in 2016 on open cast mines MB Kolubara and Kostolac mine Drmno exceeded the plan by two percent.


Good production results also allowed for electricity export, which contributed to the total revenues in 2016. Among the reform measures for more efficient operation, last year EPS also increased electricity collection to 95.2 percent, and electricity losses were reduced from 14.02 to 12.95 percent. Production modernization, investment into power plants revitalization and system security, investment into environmental protection are some of the measures EPS realizes on its path towards revenue increase and more successful operation. EPS consistently implements reforms that the Serbian Government has been pursuing, with the aim of becoming more efficient and profitable company and power support for Serbian citizens and economy.