SARAJEVO (Bosnia and Herzegovina), May 5 (SeeNews) – Bosnian coal mining and thermal energy producer RiTE Gacko [BANJ:RITE] said it turned to a net profit of 863,235 marka ($500,460/441,365 euro) in the first three months of 2025, from a 7.3 million marka net loss in the same period of last year.
In the January-March period, total operating income rose by 11.8% year-on-year to 47.2 million marka, RiTE Gacko said in its quarterly report.
RiTE Gacko’s shares traded 17% higher at 16.67 marka by 12:00 CET on Monday in Banja Luka.
RiTE Gacko is majority-owned by Elektroprivreda Republike Srpske, the power utility of Bosnia’s Serb Republic, which also owns the thermal power plant RiTE Ugljevik.
In 2024, RiTE Gacko reported a 141.8% surge in net profit to 1.4 million marka.
The Serb Republic is one of the two autonomous entities that form Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 1.956 marka)