Business News

Elan to End 2011 in Black

Begunje na Gorenjskem, 21 December (STA) - Sport equipment group Elan is to end the year with EUR 500,000 in operating profit, a U-turn from last year's operating loss of EUR 800,000 and above the company plans, the supervisory board of the Begunje-based company said on Tuesday.

The group's projections show that Elan will generate EUR 90.6m in sales revenues, which is 8% up compared to 2010, chief supervisor Ales Zupancic said.

Elan posted a loss of EUR 12.6m in 2009, while its forecasts for 2010 stood at EUR 4.4m in total losses, which later turned out to stand at EUR 1.5m.

Zupancic noted that the ski division was operating well, as "skis are selling well, so we will surpass the plan as well as last year's results".

The supervisory board moreover discussed yesterday a draft operating plan for 2012, which is to be adopted in January.

State-owned Elan, which is in search of a strategic partner or buyer, employs some 900 people, of those 600 in Slovenia.

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