The Pljevlja Coal Mine (RUP) closed the previous year with a profit of €15.05 million, according to the management report of the Pljevlja company. Since August 2018, the sole shareholder of the company has been Elektroprivreda (EPCG).
Based on the revenue and expense data, and after accounting for the tax expense of €2.68 million for the period, the net result for 2024 was a positive €15.05 million, which is 90.2% higher than the revised business plan for 2024 and slightly lower than the achievement in 2023 – the report states.
In the structure of total revenues, which amounted to €75 million in the previous year, the largest portion comes from coal sales, totaling €65.27 million, which is 2.5% lower than the previous year.
Revenues from coal sales for the needs of the Pljevlja Thermal Power Plant were 5.5% lower, while revenues from sales to the broader consumer market dropped by 10.2% compared to 2023 – the report specifies.
The report also mentions that the total expenses for the year amounted to €57.27 million, which is 7.1% lower than the expenses set in the revised plan. Compared to the previous year, the expenses were 2.8% lower, with material costs and labor costs slightly reduced by around 1%. Provisions, production services, and intangible costs were reduced by 25.2%.
During 2024, RUP paid a total of €25.84 million in obligations to the state and local authorities. The company has no outstanding tax or credit obligations – the management report for the previous year states.
In addition to not achieving the coal and overburden plans, the business year of 2024, as mentioned in the report, will be remembered for significant production and investment results, despite the ongoing issues affecting the production process.
Coal production last year amounted to 1.62 million tons, which is 9.7% less than planned and 12.7% less than in 2023 – the report notes.
At the end of the year, RUP had 977 permanent employees, which is 44 fewer than at the beginning of the year.
At the end of the year, there were 100 temporary employees, a decrease of 78 compared to the start of 2024, while there were 121 employees through agencies at the end of the year, 23 fewer than at the beginning of the year.
In 2024, the company employed an average of 1,149 workers, with an average salary of €1,117.
The average net salary showed a rising trend year over year, increasing by 1.7% in 2024 compared to 2023. One of the reasons for the increase in earnings was the change in salary calculation – the reduction in pension contributions from the gross salary, which increased net income (effective from October 2024).
Personnel costs and other personal expenses amounted to €26.3 million, which is 3% lower than the revised plan for 2024 and 1% lower compared to 2023. Personnel costs and other personal expenses accounted for 35% of the total revenue for the year, compared to 34.5% in 2023 – the report states.
