Serbian renewable-energy company Fintel Energija reported net profit of about 522,000 euros for the first nine months of 2026, up from 318,000 euros a year earlier. The increase was driven mainly by financial activities, while weaker operating revenue pushed its operating loss higher.
Financial income offsets operating decline
Profit from financial activities almost doubled to approximately 668,000 euros from 342,000 euros in the same period of 2025. The company’s results showed an operating loss of roughly 146,000 euros, more than twice the 67,000-euro loss a year earlier, as operating revenue fell 34% to around 231,000 euros.
Fintel Energija reduced operating expenses to about 378,000 euros, but the savings did not offset the decline in revenue. Its nine-month bottom line therefore relied on financial gains rather than a recovery in recurring operations.
Wind portfolio and project pipeline
Controlled by Italy’s Fintel Energia Group, Fintel Energija was the first company to develop and operate wind farms in Serbia. Its operating portfolio includes Kosava Phase 1, Kula and La Piccolina.
Kosava Phase 1 has a capacity of 69 MW, while Kula has 9.9 MW and La Piccolina 6.6 MW. The company is developing a renewable project pipeline of around 500 MW. Its near-term financial position will depend on whether the expansion programme can translate into stronger operating revenue rather than continued reliance on financial income to support profitability.
