Business results
In cooperation with the company’s owner, measures were taken to restructure business organisation, with the aim of accomplishing positive business results.
The company as a whole is profitable and financing of the on-going production comes mostly from its own working capital, with minimum use of banking loans. Year after year, investments in the equipment are getting higher, so in 2018 total investment was 6 million euros.
Placement of products produced in the quarries operating within Teko Mining is done in the local market, in the territories of the Republic of Serbia and Bosnia and Herzegovina.
Based on its size, Teko Mining is considered a medium sized company and its annual financial reports have been corroborated by the audit company “Moore Stephens”, and consolidated balance sheets across Teko Mining GmbH were checked by BDO group.
The products are mainly used in road and highway construction and maintenance, as well as in railway, water management, electric power industry and other areas of infrastructure.
Aside from large infrastructure projects, significant amount of products is distributed through local self-governments, especially through public utility companies that deal in maintaining local road infrastructure, so a large number of our customers are public utility companies in the municipalities where our quarries are located, as well as municipalities close by.
