At its 14th regular meeting held on 28 August 2014, the Supervisory Board of Sava d.d. became acquainted with business operations of the Sava Group and Sava d.d in the period January – June 2014.
In the first half of 2014, the Sava Group and Sava d.d. conducted business in accordance with the plan, in spite of further unfavourable economic circumstances.
In the first half of 2014, the companies of the Sava Group made sales revenues of €28.4 million, which was by 1% below the planned revenues. At the end of the first half-year, the operating loss of the Sava Group companies amounted to €1.1 million and was significantly lower than planned, which was due to business optimisation. A net loss of €6.0 million was made, of which the season-related loss in the companies of Tourism amounted to €1.4 million, while a loss of €4.5 million was due to Sava d.d., where the key cost refers to interest expenses and a reversal of deferred tax receivables. With regard to the end of 2013, the assets and liabilities structure of the Sava Group and Sava d.d. did not change significantly.
Furthermore, the Management Board of Sava d.d. briefed the Supervisory Board about the preparation of the revised strategy of business and financial restructuring.
Business operations of the Sava Group and Sava d.d., January - June 2014