Serbs want tobacco! It is estimated that around 2.8 million people currently actively smoke in Serbia, which contributes to the incredible profits of the three leading tobacco companies, which record 11.658 billion dinars (99 million euros) per year. Although the number of smokers in the world is decreasing, the number of people over the age of 15 who consume cigarettes daily is increasing in Serbia. According to data from the World Health Organization, a third of people over the age of 15 in Serbia smoke, which has led to the fact that tobacco companies will end up with huge profits in 2023.
The most successful company last year was Philip Morris with total business income of 31.3 billion dinars, which is 2.5 million dinars better than the previous year. Philip Morris earned 22.2 billion dinars from sales on the domestic market, and 886.7 million dinars from sales on the foreign market.
The second in terms of business income is JT International, with total income of 22.2 billion dinars, which is 4.1 billion less than in 2022. The largest part of JT International’s income comes from the sale of products and services on the domestic market – 10.7 billion dinars. British American Tobacco had the smallest operating income, with 7.9 billion dinars, which is 700 million dinars more than the previous year. Their biggest income comes from sales on the domestic market – 5.8 billion dinars.
Tobacco there, tobacco there, tobacco brings profit
Philip Morris was also the most successful in terms of net profit. He earned 6.3 billion dinars in 2023. And that represents a slight increase compared to 2022. JT International was second with 5.2 billion dinars. The sum in question is less by about 300 million dinars compared to the previous year. British American Tobacco ended 2023 with a profit of RSD 92.8 million. This, in turn, is a significant drop compared to 2022. We remind you that at that time they had a net profit of 194.8 million dinars. BAT’s reduced profitability is the result of a higher rate of growth in costs relative to revenues, including growth in the cost of materials, services and wages.
It is interesting that three tobacco companies in Serbia made almost the same profit as six leading retail chains. Namely, they made a profit with earnings of 11.658 billion dinars, while traders collected 11.847 billion dinars last year. Philip Morris employs the most people – 608, while British American Tobacco has the fewest employees – 60. The best paid are British American Tobacco employees, with an average gross salary of 622,852 dinars, followed by JT International with 585,505 dinars and Philip Morris with 313,407 dinars.
In 2023, cigarettes went up in price three times, due to two regular adjustments in January and July, and an additional eight percent increase in excise duty in October. With this increase, the state earns 90.99 dinars per pack.
Source: AgroTV
Source: boljazemlja.com
