Balkans
Montenegrin KAP net loss declined by 42 percent on the year
Edited by : AL CIRCLE
2 min read
In the first three quarters of this year, the companies run by Russia's Central European Aluminium Company (CEAC), the Bauxite Mines of Niksic and Aluminium Plant Podgorica, pared their losses to EUR8.63 million and EUR22.65 million, respectively, ISI reports.
According to a report, published on the website of Montenegro's Securities Commission, the Bauxite Mines' losses were lower by 26.4 percent year on year. The KAP net loss at the end of the nine-month period declined by 42 percent on the year.
The operating revenues of the bauxite mines at the end of September were up almost threefold, amounting to EUR2.7 million, whereas the expenses were cut by 18.4 percent to EUR7.8 million.
Long-term reserves and liabilities of the mines amount to EUR86.6 million, whereas the short-term liabilities amount to EUR23.04 million. The total assets of the Bauxite Mines at the end of the Q3 declined by 18.8 percent to EUR28.49 million.
KAP's revenues rose by 33 percent on the year by the end of September, amounting to EUR133.17 million, whereas the operating loss declined by nearly 30 percent to EUR11.93 million.
The personnel expenses amounted to EUR19 million, depreciation costs to EUR15.4 million, whereas other operating expenses amounted to EUR10.84 million, ISI reports.
According to a report, published on the website of Montenegro's Securities Commission, the Bauxite Mines' losses were lower by 26.4 percent year on year. The KAP net loss at the end of the nine-month period declined by 42 percent on the year.
The operating revenues of the bauxite mines at the end of September were up almost threefold, amounting to EUR2.7 million, whereas the expenses were cut by 18.4 percent to EUR7.8 million.
Long-term reserves and liabilities of the mines amount to EUR86.6 million, whereas the short-term liabilities amount to EUR23.04 million. The total assets of the Bauxite Mines at the end of the Q3 declined by 18.8 percent to EUR28.49 million.
KAP's revenues rose by 33 percent on the year by the end of September, amounting to EUR133.17 million, whereas the operating loss declined by nearly 30 percent to EUR11.93 million.
The personnel expenses amounted to EUR19 million, depreciation costs to EUR15.4 million, whereas other operating expenses amounted to EUR10.84 million, ISI reports.
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