Celje, 21 March (STA) - The director of the Tuš holding Matjaž Zadravec described 2011 as a successful year for the Tuš group on Friday, pointing to retailer Engrotuš's growth in Bosnia-Herzegovina and Macedonia and the increasing market share in Slovenia of the group's mobile arm, Tušmobil.
Reporting a 4% year-on-year drop in sales revenues for the group to EUR
789m and an EBITDA increase from EUR 44m to EUR 48m, Zadravec said the
indebted group was successfully implementing its business strategy
following an agreement with all stakeholders.
He said Engrotuš had
increased sales revenues by EUR 6m to EUR 645m and saw an improvement on
strategic markets abroad, increasing revenues in Bosnia-Herzegovina by 5%
and sales in Macedonia by 19%.
Five new shopping centres are planned
in Bosnia this year, two of which have already opened, Zadravec told the
press in Celje.
Tušmobil, Slovenia's no. 3 mobile operator, which
had been considered for sale following the offloading of the fuel retail
division Tuš Oil, meanwhile increased its market share in Slovenia from
7.9% to 10.1%.
With 220,000 users it is the fastest growing Slovenian
mobile operator, Zadravec said about the company, which increased its
EBITDA from zero to EUR 2.7m in 2011 despite a EUR 6m drop in net sales to
He said that the capital structure of the Tuš group, which
employs 4,300 people, was significantly more stable than ever before and
that all commitments to banks were being met.
Zadravec does not
exclude strategic and financial tie-ups with partners that would meet
Tuš's expectations, especially regarding shopping centres in Macedonia and
The Tuš group is the sixth largest business group in
Slovenia while Engrotuš is the sixth largest company in terms of total