CEO at Gornji Milanovac-based Metalac (MTLC), Radmila Trifunovic, stated for the company newsletter that last year Metalac achieved a total revenue of around EUR 145m in all subsidiaries and a net income of around EUR 6m.

Although the management estimates that 2023 will be even more difficult, Metalac expects to achieve a total revenue of EUR 153m and a profit of EUR 6.4m.

Trifunovic warned of the increase in material, energy, and transport costs that the company has been facing and announced the optimization of the number of employees in overhead jobs. She stated that in the first half of the year, the company would achieve the goal of reducing overhead workers by 10% through retraining and retirement of employees.

Shares in Metalac fell by 9.8 percent in 2022 to RSD 1,678, which gives the market cap of the company at RSD 3.42bn (EUR 29.2m).

Source: Metalac, Momentum