Institut Dr Simo Milošević, the rehabilitation and health-tourism operator based in Igalo, generated €3.8 million in pre-tax profit during the first nine months of the reporting period, while sales revenue increased 4.3% to €11.48 million.
Reported profit was lower than the €6.74 million recorded in the corresponding period of the previous year, but that result included approximately €3.75 million in exceptional income from the sale of the institution’s children’s department property. Excluding the property transaction, pre-tax profit in the comparative period amounted to approximately €2.99 million. Against this adjusted figure, the latest result represents an increase of around 27%, indicating improved earnings from regular operations.
Operating expenses rose 4.2% to €8.52 million, compared with €8.17 million in the previous year. Wages, employee benefits and related costs remained the largest expense category, increasing 3.9% to €4.77 million.
The institution treated 10,992 patients and guests, an increase of 4.3%, while total overnight stays grew approximately 5% to 143,139.
Domestic patients accounted for most of the activity. Beneficiaries of Montenegro’s Health Insurance Fund generated 95,213 overnight stays, approximately two-thirds of the total. Trade union organisations accounted for another 10,975, while pension fund beneficiaries recorded 4,966 overnight stays. Foreign-market activity declined, with international overnight stays falling from 25,051 to 22,946. Domestic demand therefore remained the main driver of overall activity growth.
Operational improvements included reopening the second-phase facility to patients, refurbishing six lifts, installing a new lift in the therapy section and replacing heating equipment. These works form part of the institution’s modernisation and restructuring efforts. The financial results show improved recurring profitability, while the decline in international overnight stays remains a feature of its market performance.
