SARAJEVO (Bosnia and Herzegovina), July 24 (SeeNews) – Bosnia's Optima Grupa has accumulated some 850 million marka ($477.2 million/434.6 million euro) in losses over the past five years, while its total income in the review period amounted to 5.9 billion marka, local media reported on Friday.
In 2014 alone, the company reported a loss of 299.9 million marka, while its revenues totalled 1.07 million marka, business portal Capital.ba reported, citing the company's financial records.
According to Capital.ba, a year earlier the group booked a loss of 145.6 million marka.
Optima Grupa's loss widened to 157.6 million marka in 2012 from 137.5 million marka a year earlier and 107.6 million marka in 2010.
Optima Grupa is entirely owned by Russia’s NeftegasInCor, a subsidiary of Russia’s Zarubezhneft, and is in charge of Zarubezhneft’s commercial and development operations in Bosnia.
Bosnia's Rafinerija Nafte Brod, Rafinerija Ulja Modrica and Nestro Petrol units all fall under the umbrella of Optima Grupa.
In June, Optima Grupa announced it plans to sell real estate, with total value in the millions of euro, owned by its Bosnian subsidiaries. Local media then speculated the group’s financial problems may be the main reason for this move.
(1 euro=1.95583 Bosnian marka)