April 25 (SeeNews) - Serbian bus maker Ikarbus [BEL:IKRBG] said its net loss shrank to 52.6 million dinars ($485,000/452,000 euro) in 2023 from a loss of 24.6 billion dinars in 2022.
Total revenue dropped to 21.1 million dinars last year from 23.7 million dinars in 2022, while total costs plunged to 73.6 million dinars from 24.6 billion dinars in the period under review, the company said in its annual financial report submitted with the Belgrade bourse on Wednesday.
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Ikarbus' operating loss widened to 55.5 million dinars last year from 51.3 million dinars in 2022.
Ikarbus' shares have not traded on the Belgrade bourse since the start of the year.
Chinese firm Green Stone Investments Co DOO Belgrade-Zemun is the largest shareholder in Ikarbus with a 59% stake. It is followed by local lender Univerzal Banka with 15.4%, Belgrade-based firm Project Questra with 7.1% and the Serbian government with 5.1%. The remainder belongs to smaller shareholders, data from Serbia's central securities depository and clearing house showed on Thursday.
Ikarbus operates a factory in Belgrade's urban municipality of Zemun with a manufacturing capacity of 250 vehicles per year. The company currently produces low-floor and articulated city, intercity and tourist buses, as well as buses powered by natural gas.
(1 euro = 117.170 dinars)