Serbian oil and gas company NIS said on Wednesday its consolidated
earnings before interest, taxes, depreciation, and amortization (EBITDA) were
flat at 47.3 billion dinars ($494.6 million/396.4 million euro) in the first
nine months of 2014.
Keeping EBITDA at last year's level was made
possible by the implemented measures to boost efficiency and reduce production
costs, NIS said in a statement.
In the absence of positive dynamics in
the settlement of customers' dues, NIS said it was forced to continue cutting
the investment program planned for 2014 with the volume of capital investments
falling 29% to 26.9 billion dinars through September