26 April 2019 - In the past four years, nine construction companies generated 113 million EUR of net income. Almost half of the amount went to Bemax.
Bankar.me portal has analyzed last year’s performance of the companies whose annual income exceeds 2 million EUR. Apart from other companies, they have been examining Bemax, since it’s the most frequent supplier and often the contractor. Judging by many indicators, this enables them the leader status. First and foremost, judging by the income level and net profit. On an annual level, this company generates profit that equals the total of profits generated by other observed companies. Although earnings of the companies are on an upward trend, they still fail to keep up to the tempo of Bemax.
So far the most profitable companies in the sector, Bemax and Zetagradnja, have recorded a slight fall in profit in comparison to 2017. Bemax, which was a national record-holder in 2017 with a profit of 20 million EUR, had 13 million EUR profit last year.
Zetagradnja, a company whose logo decorates some of the greatest buildings in almost every part of the Capital, is currently carrying out the biggest project – construction of City point complex. As this project is approaching the finish, the profit and revenues will be increasing simultaneously.
Fidija and Cijevna komerc have recorded the highest increase in profit. Gradnja promet and Trudbenik companies have recorded fallen in profit. Looking at the return of the capital employed (11%), the operation of these two companies is quite stable.
Cijevna komerc and Novi Volvoks have recorded the most efficient engagement of capital, whereas Gradnja promet has recorded a drop. However, employees in companies have salaries that are lower than the state average. The problem is the number of employees who are engaged “in case of need” and foreign workers who make up the majority of the workforce at construction sites. Therefore, figures representing the average monthly net wage should be taken with a grain of salt.
Only 5% of total income covers the staff costs which means that this work is not as appreciated as it should be.
Source: Cafe del Montenegro
