Serbia’s EPS reports EUR 234 million profit for first half of 2025

Elektroprivreda Srbije achieved a profit of RSD 27.4 billion (EUR 233.8 million) in the first half of 2025.

The financial result of the state-owned Elektroprivreda Srbije (EPS) is lower than in the same period of 2024, when profit amounted to RSD 32.8 billion (EUR 280.3 million). The company posted RSD 26.1 billion (EUR 222.8 million) in net income for the entire year.

The Ministry of Mining and Energy said the shareholder assembly of the Serbian joint stock company EPS has adopted the report on the implementation of its three-year business plan for the first six months of 2025, declaring a profit of RSD 27.4 billion (EUR 233.8 million).

Minister of Mining and Energy Dubravka Đedović Handanović, the sole shareholder assembly member, noted that the trend of continuous production and financial stability of the company has continued, and highlighted the importance of the results achieved in the mining sector.

The priority is to prepare machinery for the new Radljevo mine in the Kolubara basin

Coal production exceeded the plan by 8%, but more importantly, the year-over-year rise in coal production was 7%, according to Đedović Handanović.

However, in her words, it is crucial to continue the same pace, which is why great effort must be put into completing the machinery preparation project for the new Radljevo mine in Kolubara, so that overburden production can begin next year.

Reduced costs for coal procurement from outside the company

She said that through careful management of the electricity portfolio, coal stocks in depots have been maintained at a high level, around 1.68 million tons. The costs of purchasing coal from third parties are RSD 1.35 billion (EUR 11.5 million) lower than planned and significantly lower than in the past three years, Đedović Handanović said.

The minister highlighted the fact that hydrology has been unfavorable for the second consecutive year, affecting electricity production.

She recalled that in the first quarter of this year, the Petka solar power plant in Kostolac was put into trial operation. Soon, the blades of EPS’s first wind farm will be spun for testing, she Đedović Handanović added.

EPS investing in a subsidiary in Kosovo and Metohija

“It is essential to improve the management of investment activities, especially considering that work is underway on the most significant energy project – the construction of the Bistrica pumped storage hydropower plant. At the same time, it is important to continue efforts to reduce operational costs and improve customer relations,” the minister stressed.

She revealed that as part of the company’s transformation process, key performance indicators (KPIs) were introduced for executive and middle management.

The EPS assembly also approved the decision to invest in the capital of Elektrosever, the company’s subsidiary in Kosovo and Metohija.

That way it enables supplying Serbia’s citizens in four municipalities in the province’s north, she explained. More than 45% of consumers got smart meters by now from Elektrosever, the ministry stressed.