The Pljevlja Coal Mine (RUP) reported a profit of €6.28 million for the first quarter of 2025, marking a 70% increase compared to the same period last year when the profit was €3.69 million.
The company attributed this positive financial result to higher average prices, which compensated for a lower coal delivery to the Pljevlja Thermal Power Plant. Total revenue amounted to €18.79 million, exceeding the plan by €651,224 (3.6%) and increasing by €906,319 (5.1%) compared to the first quarter of 2024.
Operational costs for the first quarter totaled €12.5 million, 5.1% lower than planned, and €1.69 million (11.9%) lower than in the same period last year.
RUP’s business operations in the first quarter of 2025 were conducted under sound business policies. Coal deliveries to the Thermal Power Plant were in line with the planned schedule, except for brief interruptions in January and March due to network failures. Additionally, coal was sold to the open market depending on market trends.
A total of 454,799.76 tons of coal was produced in the first three months of 2025, 5.7% less than the planned 482,500 tons, but 1.8% more than the same period last year. Coal deliveries to the Thermal Power Plant amounted to 389,980.50 tons, 3.7% below the plan but slightly less than last year. The delivered coal had a quality of 10,418 kJ/kg, 7.9% higher than the contract specification of 9,300 kJ/kg.
The coal mine closed 2024 with a profit of €15.05 million. Since August 2018, the only shareholder and owner of the company is Elektroprivreda Crne Gore (EPCG).
