Following the today’s article in Finance newspaper Janez Bohorič Abdicating Sava and Rescuing What Can be Rescued, and Janez Bohorič Bids Farewell and Searches for Money, we hereby announce our answer, which we forwarded to Finance newspaper.

The holding company Sava d.d. is the parent company of the Sava Group. Besides managing the subsidised companies an extensive part of its operation is represented by investment finance. The most important events, which determined the business success in 2009, were the sale of a 10.01% ownership stake in the company Merkur d.d., impairments of financial investments, a significant decrease in interest expense for borrowings due to a lower variable part of the interest rate, and savings in expenses for company’s operations. The net profit was generated in the amount of €27.4 million, which was 13% more than planned for 2009. The accumulated profit of Sava d.d. amounted to €36.7 million at the end of the year. The Board of Management will propose a dividend for 2009 to be paid in accordance with the adopted dividend policy of the company, which foresees a stable 3% annual growth in dividend payment.  

Kranj, 13 January 2010 – At today's press conference, the Board of Management of Sava d.d. presented the Strategic Guidelines and Goals of the Sava Group and Sava d.d. for the next 3-year period, until 2012, and main characteristics of the 2010 business plan. In this strategic period Sava Group companies plan to achieve further growth in its result despite unfavourable and uncertain circumstances.