Bosnia's RiTE Ugljevik expects its net profit to fall sharply in 2013

The company’s total income is expected to fall to 143.7 million marka in 2013 from an estimated 155.6 million marka in 2012, RiTE Ugljevik said in a filing with the Banja Luka Stock Exchange on Monday.

The energy complex plans to generate 1,600 gigawatthours (GWh) electricity next year, 14% less than what it plans to produce in 2012.

Its coal production is seen at 1.87 million tonnes in 2013, down from estimated 2.11 million tonnes this year.

Next year, RiTE Ugljevik's total investments are projected at 111.972 million marka.

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. The Ugljevik power plant is one of two coal-fired plants in the Serb Republic.

The other plant of the same capacity is part of the Gacko coal mine and power generation complex located in southern Bosnia.

(1 euro=1.95583 Bosnian marka)