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InvestSlovenia http://dev.tend.si/investslovenia/ Bussiness news en.UTF-8 TYPO3 News Fri, 20 Jul 2018 03:32:24 +0200 Fri, 20 Jul 2018 03:32:24 +0200 TYPO3 EXT:news news-5212 Tue, 17 Jul 2018 00:00:00 +0200 May brings more jobs https://www.investslovenia.org/news-media/business-news/may-brings-more-jobs-5212/ Ljubljana, 17 July (STA) - Fresh statistics show an increase in the number of jobs created in Slovenia in May. With 872,266 people in employment, the figure rose by 0.3% from the month before and by 3% year-on-year. According to the Statistics Office, the number of men in a job rose by 0.4% compared with April to roughly 476,800, whilst the number of women in work increased at a slightly lower rate of 0.3% to about 395,500.

Of the 872,266 people in work, 93,221 were self-employed. The latter figure marks an increase of 0.1% on the month before and a rise of 1.3% on May 2017.

Most new jobs were created in the manufacturing sector, in particular electrical equipment manufacturing, while the biggest decline was recorded in vehicles production.

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news-5213 Tue, 17 Jul 2018 00:00:00 +0200 Adria Airways expands to Germany's Paderborn-Lippstadt https://www.investslovenia.org/news-media/business-news/adria-airways-expands-to-germanys-paderborn-lippstadt-5213/ Ljubljana, 17 July (STA) - Adria Airways, the Slovenian flag carrier which was acquired by the German 4K Invest in 2016, is expanding its reach to German airport Paderborn-Lippstadt, from which it will fly to Zurich, Vienna and London's Southend when the winter flight schedule sets in in the autumn. The scheduled route from the North Rhine-Westphalia region to Switzerland will be operated eleven times a week, the route to Austria four times and the one to the UK three times a week, the company said in a press release on Tuesday.

Commercial director Christian Schneider welcomed the new base and routes in "this economically strong region" with major European cities as a very important step for Adria.

"We're happy that we can intensify our presence in the German market and that Paderborn is already our fifth destination in Germany," he said.

Adria CEO Holger Kowarsch was meanwhile quoted by news portal EX-YU Aviation News as saying that the company was looking for new opportunities abroad because of Slovenia's small market.

"In the long-term, we are focussing on growth, so we're not limiting ourselves to the existing bases," he told the news portal last week.

Cooperation with Adria was also welcomed by Paderborn-Lippstadt airport director Marc Cezanne, saying there was a big demand in the region for links with the three European cities.

According to EX-YU Aviation News, some 700,000 passengers pass through Paderborn-Lippstadt a year, mostly during summer months, when many fly to Turkey and Greece.

Adria will fry from the German airport with Saab 2000 planes.

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news-5210 Mon, 16 Jul 2018 00:00:00 +0200 Average pay up Y/Y in May https://www.investslovenia.org/news-media/business-news/average-pay-up-yy-in-may-5210/ Ljubljana, 16 July (STA) - Average pay in Slovenia was at EUR 1,663 gross and EUR 1,078 net in May. The figures were slightly down compared to the month before but an improvement over May 2017, the Statistics Office said on Monday. Year-on-year, gross pay was up 3.1% in nominal terms and 1.1% in real terms. Net pay increased by 2.6% in nominal terms and 0.6% in real terms compared to May 2017.

In comparison to April 2018, average gross and net pay in May were 0.1% lower in nominal terms and 1.3% lower in real terms.

In both the private and the public sector, average gross pay was level over the previous month, but on a year-on-year basis it rose 3.7% in the private sector and 2.7% in the public sector.

The biggest increases in pay were seen in mining and quarrying, where net pay went up by 3.2% over April and by 9.2% compared to May 2017.

Average net pay was highest in energy supply, amounting to EUR 1,532.

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news-5211 Mon, 16 Jul 2018 00:00:00 +0200 French Beneteau acquires Slovenian sailing boat producer https://www.investslovenia.org/news-media/business-news/french-beneteau-acquires-slovenian-sailing-boat-producer-5211/ Ljubljana, 16 July (STA) - French boat builder Beneteau has acquired a 60% stake in Seascape, a Slovenian company specialising in designing, building and marketing performance sailing yachts. The remaining 40% stake is held by Seascape's founders Andraž Mihelin and Kristjan Hajnšek. Beneteau acquired Ljubljana-based Seascape on 9 July, making it part of the French group with around 7,000 employees and presence in Italy, the US, Poland and China.

The group posted revenue to the tune of more than 1.2 billion euro in the past business year, according to data from its website.

While it used to focus on sailboats, Beneteau has significantly expanded its range of products to speedboats and yachts over the past few years.

"Our acquisition of a stake in Seascape will enable us to offer a selection of small sailing yachts designed for both novice sailors and enthusiasts, often younger and first-time buyers," Beneteau CEO Herve Gastinel said in a statement posted on the company's website.

It will moreover further strengthen the group's global leadership in the liveaboard monohull sailing segment by including performance cruisers.

Seascape was founded in 2008 by two Mini Transat Class sailors, and has become a leader in the transportable performance cruiser segment.

It currently offers four models, from 4.3 to eight metres, designed by Sam Manuard, and generated revenue of more than four million euro in 2017.

The company started gaining a reputation abroad with Seascape 18, a 5.5-metre yacht which was declared European yacht of the year in 2010.

According to Beneteau, the Slovenian company's output topped 100 sailing boats last year.

Seascape CEO Mihelin said that they "will continue to develop sailing boats, events and services in line with the spirit that has been central to our brand's success, while benefiting from group Beneteau's global scale and expertise".

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news-5209 Sun, 15 Jul 2018 00:00:00 +0200 EUR 160m available for investment into tourist infrastructure https://www.investslovenia.org/news-media/business-news/eur-160m-available-for-investment-into-tourist-infrastructure-5209/ Ljubljana, 15 July (STA) - Companies have from now on 160 million euro at their disposal to co-finance investments into tourist infrastructure from a special credit fund. A company can take out a long-term loan of up to 20 million euro under favourable terms from the SID Banka-managed credit fund, said the Slovenian Tourist Board (STO).

The loans can be used for investments into accommodation and sports facilities, entertainment and cultural venues, ski lifts, tourist resorts or marinas.

The new infrastructure will have to be built in Slovenia, and completed five years after the loan contract is signed at the latest.

The total value of a single investment must not exceed 50 million euro, with the loan from the SID fund covering no more than 85% of the value.

As the Slovenian tourist industry is posting record arrival and night figures, revenue is lagging far behind.

An average hotel room price in Slovenia is estimated to be by 30% below the prices in neighbours countries: on the Croatian coast, in Italy, Austria and Budapest.

A goal to secure 18,000-20,000 new rooms has thus been included by the Economy Ministry into Slovenian tourism's sustainable growth strategy until 2021.

Slovenia's tourism draw 145 million euro in grants from the EU's 2007-2013 budget for various tourist facilities, but there are no more such funds in the 2014-2020 budget.

Since this effects investments in the Slovenian tourism industry, the government came up with the new credit fund.

When presenting the new scheme last month, Minister Zdravko Počivalšek said "this is the crowning achievement of four years of our work" and added that "we cannot expect growth in tourism without investment".

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news-5208 Fri, 13 Jul 2018 00:00:00 +0200 Steklarna Hrastnik getting ready for due diligence https://www.investslovenia.org/news-media/business-news/steklarna-hrastnik-getting-ready-for-due-diligence-5208/ Hrastnik, 13 July (STA) - Glass maker Steklarna Hrastnik is looking for a strategic partner that would invest in the plant's long-term development and expansion, the company told the STA on Friday. Currently, it is preparing for potential buyers to conduct due diligence at the company. The head of the in-house trade union, Jani Kovačič, told the STA that the management had notified the staff of the planned sale on Tuesday and that the staff had welcomed the move.

The sole owner of the glass maker, the Cyprus-based Ampelus Holding, has been looking for a strategic partner since April, the Holding's representative Igor Lah told the newspaper Dnevnik on Thursday.

According to the paper, the interest for the company is somewhat greater this time than it was in 2013, when a sale process was halted.

Reportedly, a Czech glass maker and a Swiss financial fund are among the potential buyers.

Steklarna Hrastnik has ranges of products. It produces bottles for various brands of spirits and household glassware.

In June, it invested EUR 4.2m into a new individual section machine to further boost its production of bottles, with which the company makes 70% of turnover.

The state-of-the-art machine boosted the bottle production by a fifth and strengthened Steklarna's position as a leading producer of special high-end glass packaging.

Steklarna Hrastnik also plans to open a new plant in Poland to open the door to expansion to the global market. A company is expected to be set up this year, which will be 40% Polish- and 60% Swiss-owned.

The construction of the plant is to start in 2019. The investment is estimated at EUR 70m and production is to be launched in 2019.

Steklarna Hrastnik's revenue topped EUR 58.2m in 2017, which is 6.8% more than the year before. Profit before tax rose by 14.5% to EUR 7.9m.

The positive trends continue this year as well, with the company posting EUR 15.2m in sales revenue and EUR 1.9m in gross profit in the first quarter of the year, both above plans.

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news-5207 Thu, 12 Jul 2018 00:00:00 +0200 Change of ownership at Pomurske Mlekarne https://www.investslovenia.org/news-media/business-news/change-of-ownership-at-pomurske-mlekarne-5207/ Ljubljana, 12 July (STA) - Delavska Hranilnica, a savings bank, has sold its majority stake in Pomurske Mlekarne, one of Slovenia's largest dairies, as it continues to offload non-core assets to comply with regulatory requirement. The 60.6% stake in the Murska Sobota-based dairy was sold to RRC, a company owned by Australian-Slovenian businessman Anthony Tomažin, for an undisclosed price.

The trade union-controlled Delavska Hranilnica became the majority owner after it bought claims from NLB bank and converted them into equity, which helped the dairy avert bankruptcy and successfully complete debt restructuring.

Pomurske Mlekarne posted net sales of EUR 33.4m in 2016, the latest year for which data is publicly available, down 3% year-on-year, while net profit declined by roughly a third to EUR 1.2m.

Media have reported that Delavska Hranilnica was forced into the sale by the central bank, which has long been concerned about the fast-growing savings bank's capital base.

Delavska Hranilnica said the new owner had committed to support the development of the dairy and planned additional investments in the modernisation of production.

RRC owns two popular bars in the centre of Ljubljana and the Vogel ski resort in Gorenjska. It remains unclear whether it will try to buy out the remaining shareholders.

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news-5206 Wed, 11 Jul 2018 00:00:00 +0200 Oil maker Gea acquired by businessman Franc Frelih https://www.investslovenia.org/news-media/business-news/oil-maker-gea-acquired-by-businessman-franc-frelih-5206/ Slovenska Bistrica, 11 July (STA) - Plasta, a plastic film maker that is part of the business empire of Franc Frelih, has acquired the majority stake in vegetable oil maker Gea that was being sold by a consortium of shareholders headed by KD Group. A group of financial companies had been selling more than 60% in Slovenia's leading vegetable oil manufacturer for some time.

The transaction, whose value has not been disclosed, did not include the biggest single shareholder to this point, food company Eta Kamnik, which bought a 18.35% stake from the Bank Assets Management Company (BAMC) in 2017.

The stake had ended up at the bad bank following the collapse of the Church-controlled holding Zvon Dva.

The deal, announced on Wednesday on the webpage of the Ljubljana Stock Exchange, makes Gea part of the empire of Frelih, ranked 18th on last year's list of the wealthiest Slovenians according to the Manager magazine.

Plasta employed 130 people in 2016 and generated EUR 23m in revenue and EUR 4.5m in net profit. All of Frelih's companies generate a combined annual turnover of over EUR 100m.

Gea, which employs around 100 people, saw its net profit drop by 15% to EUR 150,000 last year, despite the sales revenue increasing by 5% to EUR 25.7m.

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news-5201 Tue, 10 Jul 2018 00:00:00 +0200 Slovenia's exports up by tenth Y/Y in May https://www.investslovenia.org/news-media/business-news/slovenias-exports-up-by-tenth-yy-in-may-5201/ Ljubljana, 10 July (STA) - Slovenia's export engine continues to hum along, but export growth slowed to 10.1% in May from 13.8% in April, the latest Statistics Office data show. Imports decelerated at a similar pace. Despite the relative slowdown, the euro value of merchandise exports was the second highest this year, at EUR 2.6bn, whereas the value of imports was the highest in several years, at EUR 2.7bn.

In the first five months of the year exports grew by 11% and imports were up by 10.8%. The trade surplus was at EUR 257m.

While EU markets account for the bulk of Slovenia's trade - almost 77% of total exports and almost 78% of total imports - growth on non-EU markets was brisker.

Exports to the EU rose by just under 8% in May and almost 9% in the first five months, while the equivalent figures for non-EU markets were 20.4% and 19.3%, respectively.

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news-5202 Tue, 10 Jul 2018 00:00:00 +0200 Industrial output in May up 6% year-on-year https://www.investslovenia.org/news-media/business-news/industrial-output-in-may-up-6-year-on-year-5202/ Ljubljana, 10 July (STA) - Industrial output in Slovenia in May was up by 6% compared to the same period last year, while it was up by 0.7% on the monthly basis. It was also up by 22.3% compared to the average for 2015, the Statistics Office reported on Tuesday. On the annual basis, industrial output was up in May the most in mining and quarrying (+8.1%), followed by manufacturing (+6.5%), and electricity, gas and steam supply (+0.7%).

Compared to April, industrial output increased only in manufacturing (+0.9%), while it was down in electricity, gas and steam supply (-1.8%) and in mining and quarrying (-1.5%).

Sale revenue in the Slovenian industry was up in May by 7.5% year-on-year, and by 1% compared to April.

The biggest annual increase in sale revenue was recorded in the production of investment products (by 15.2%).

The value of inventories and unfinished production was up by 8.1% year-on-year (increasing by 8.2% in manufacturing).

On the monthly basis, the value of inventories was up in May by 0.5%, and by 21.2% compared to the 2015 average.

In the first five months of 2018, industrial output was up by 7.4% compared to the same period last year.

It was up the most in manufacturing (+8%), followed by electricity, gas and steam supply (+3.1%), while it was down in mining and quarrying (-5.5%).

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