Half-Year Bulletin Reveals Insights from Macedonian Listed Companies
The half-yearly bulletin issued by the Stock Exchange for listed joint-stock companies, categorized by industry, provides intriguing data on their individual performances. The Stock Exchange has selected 35 industrial listed joint-stock companies for this report. According to the data, 27 of these companies reported profits, while eight experienced losses.
The total profit generated by these listed joint-stock companies amounts to 30 million euros. This figure is notably lower than the profit achieved by the largest Macedonian bank, Komercijalna, which reported a positive financial result exceeding 46 million euros in the first half of this year.
It is important to note that the 27 companies that operated profitably likely accumulated a greater total net profit. However, the losses incurred by the few underperformers, whose deficits are not insignificant, reduced the overall profit of the Macedonian industry listed on the Stock Exchange.
Furthermore, it should be mentioned that the combined result of the 35 companies from the industry, which is a profit of 30 million euros for six months, represents an increase of 80.45 percent compared to the same period last year.
The Most Profitable Companies in the Macedonian Industry
Now, let’s explore which companies stand out as the most profitable in the Macedonian industry among the listed joint-stock companies.
First on the list is the Skopje Cement Plant USJE, with a profit of 15.8 million euros achieved in the first six months of this year, marking a growth of 73.22 percent compared to the same period last year. We commend USJE for its successful operations, which were only slightly impacted during the significant energy crisis when their energy costs rose substantially.
In second place is the Marble Combine from Prilep, with a profit of 7.85 million euros for the first half of the year, reflecting a growth of 26.52 percent compared to the same period last year. This is also an excellent result, showcasing a robust increase of over a quarter on a half-year basis.
The steel giant Makstil ranks third, reporting a net profit of 2.46 million euros. Unfortunately, despite their strong performance and positive financial outcome, their profit has decreased by 16.9 percent compared to the same period last year. The company has clearly outlined the reasons for this situation.
Immediately following Makstil is the Tikves Winery, renowned for its Macedonian wines, which reported a profit of 2.14 million euros in the first half of the year. They also have a reason to be pleased, as their profit has increased by 28.14 percent compared to the same period last year.
Next is Ading, another successful company that leads in Southeast Europe for the production and marketing of chemical materials for construction, established in 1969. Their profit was 1.76 million euros in the first half of the year, representing a commendable growth of 25.4 percent compared to the same period last year.
Pekabesko follows with a profit of 1.35 million euros and a growth of nearly 5 percent. The Prilep Brewery reported a profit of 1.12 million euros, unfortunately reflecting a decrease of 33.45 percent. Lastly, Grozd from Strumica achieved a profit of 677,000 euros, showcasing an impressive profit increase of nearly 52 percent.
Significant Profit Growth Reported in the Industry
A notable profit of 460,000 euros has been recorded, reflecting a remarkable increase of 24.3%. This growth highlights the positive trends within the industry.
Another company worth mentioning is BIM Sveti Nikole, which, despite ranking 10th in terms of profit with 453,000 euros, achieved an impressive growth of 225% compared to the same period last year. BIM AD Sveti Nikole specializes in the production of bitumen-based waterproofing materials and stands out as the only manufacturer of bitumen waterproofing products in North Macedonia.
Financial Challenges for Some Companies
In contrast, Liberty has faced significant losses, reporting a deficit of 3.51 million euros, marking a considerable negative financial outcome. Meanwhile, Tobacco Factory Prilep recorded a loss of 969,000 euros, whereas the previous year, they operated profitably. Additionally, FZC 11 October from Kumanovo reported a profit of 584,000 euros.
Among the 35 companies in the industry, eight joint-stock companies operated at a loss during the first half of this year.
