A successful end of 2016 for Sava
At its 5th meeting, the Management board of Sava d.d. discussed the 2016 Annual Report of Sava d.d. and of the Sava Group. The Sava Group finished the year 2016 with 69.09 million EUR of revenues, 17% higher EBITDA at 14.13 million EUR and with 34.72 million EUR of capital.
We achieved these results thanks to selling off nonstrategic assets, optimising operations and the entrance into force of the compulsory settlement of Sava d.d., as well as thanks to improved business operations in tourism, where we noted a 5% growth in sales revenues. In 2016, we continued the development of tourist activities by investing in key services and products in the health and holiday segment and by undertaking measures to profit from potential synergies between tourism companies.
By selling off the assets, we were able to repay a significant portion of the previous obligations of Sava d.d.
The Management Board also took note of the auditor’s assessment of the 2016 Annual Reports of Sava d.d. and the Sava Group – the auditor gave a positive assessment of both reports.