BANJA LUKA (Bosnia and Herzegovina), February 29 (SeeNews) – Bosnian coal miner and energy producer RiTE Ugljevik [BANJ:RTEU-R-A] said on Monday its net loss widened to 18.2 million marka ($10.1 million/9.3 million euro) in 2015, from 11 million marka a year earlier.
Operating income increased by 4% to 140.9 million marka in 2015, while operating costs rose to 156 million marka from 146.1 million, RiTE Ugljevik said in an income statement filed with the Banja Luka Stock Exchange.
The negative financial result was mainly due to an increase in liabilities as a result of the enforcement of legislation on the use of natural resources for electricity production.
RiTe Ugljevik’s power production totalled 1.75 million MWh, in line with targets, while coal production was also met targets, at 2.03 million t.
Investments totalled 37 million marka in 2015.
The coal mine and the adjacent power plant are located in the northeastern part of the Serb Republic, which together with the Muslim-Croat Federation makes up Bosnia and Herzegovina.
(1 euro = 1.95583 Bosnian marka)