June 21, 2024
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Serbia: Mining and construction sector recorded significant growth in activities

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The significant growth of activities in the mining and construction industry has also affected the business of companies whose activity is field exploration by drilling and sounding.

In Serbia, according to the data of the credit rating company CompanyWall, 107 companies and entrepreneurs are registered for this activity, and although the total profit of the sector in 2022 was in the “minus”, the most successful among these companies have achieved a significant increase in income in the last three years.

The very activity of field research by drilling and sounding also includes taking samples for the purpose of studying the field and construction, as well as for geophysical, geological or other purposes. As such companies, according to the nature of their work, are “directed” to partners from the mining industry, it is not surprising that the best business results in 2022 were reported by two companies whose headquarters are in Bor – Reflex Drilling and Drillex International.

Reflex Drilling, which according to CompanyWall data has recorded revenue growth in the last three years, in 2022, also achieved the highest EBITDA among companies registered for field exploration activity by drilling and sounding. On the company portal, they point out that they operate in Serbia, European countries, but also in West Africa, and that their specialty is collecting mineral samples.

In second place according to EBITDA, but in first place when it comes to revenues achieved in 2022, is the company Drillex International, which among its references highlights cooperation with well-known mining companies on projects in Serbia or in the region.

Companies engaged in this activity also play a significant role in the construction industry, in which field research is carried out in order to determine the quality and properties of the soil on which construction is planned, whether it is low-rise construction or high-rise construction.

Although CompanyWall’s data indicates that the companies registered for field exploration by drilling and sounding in the past three years at the activity level made a loss, an insight into the results of the most successful in 2022 shows that those that have positioned themselves well in the market are generating significant income and gain.

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