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InvestSlovenia http://dev.tend.si/investslovenia/ Bussiness news en.UTF-8 TYPO3 News Wed, 19 Sep 2018 13:28:24 +0200 Wed, 19 Sep 2018 13:28:24 +0200 TYPO3 EXT:news news-5286 Tue, 18 Sep 2018 00:00:00 +0200 Bad bank selling EUR 94.4m in claims to legal entities https://www.investslovenia.org/news-media/business-news/bad-bank-selling-eur-944m-in-claims-to-legal-entities-5286/ Ljubljana, 18 September (STA) - The Bank Assets Management Company (BAMC) is selling claims to 53 legal entities. The value of the claims, being sold as a package, reached EUR 94.4m at the end of July. BAMC is collecting bids until 5 November. The claims, which BAMC had taken over mostly from bankrupt companies, are loans, guarantees and transactions.

Some of them are secured with third-party guarantee or real estate, BAMC says on its web site.

The bad bank is collecting binding bids that are valid at least until 28 February 2019.

Bidders, who will sign a non-disclosure agreement and pay EUR 10,000 in security, will be able to conduct due diligence of the documents.

Bids will not be opened publicly and BAMC also reserves the right to accept bids that arrive after 5 November.

It moreover reserves the right to request bidders to improve or supplement their bids, and continue individual negotiations with all or just certain bidders.

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news-5284 Mon, 17 Sep 2018 00:00:00 +0200 July average net wage at EUR 1,072, up 1.2% y/y in real terms https://www.investslovenia.org/news-media/business-news/july-average-net-wage-at-eur-1072-up-12-yy-in-real-terms-5284/ Ljubljana, 17 September (STA) - Average net pay in Slovenia in July amounted to EUR 1,071.76, which is 0.2% less nominally and 0.7% more in real terms compared to June, the Statistics Office reported on Monday. Year-on-year the pay increased 3.1% nominally and 1.2% in real terms. The average gross wage in July was EUR 1,650.84, down 0.2% nominally and up 0.7% in real terms compared to June. Year-on-year it rose by 3.6% nominally and by 1.7% in real terms.

In the private sector the average net wage in July stayed almost unchanged compared to June, while it increased by 0.3% in the public sector.

The average net wage in July was the highest in electricity, gas, steam and air conditioning supply, at EUR 1,484.79, and in finance and insurance, standing at EUR 1,482.55.

The energy supply sector, however, also saw the biggest monthly decrease, one of 10.4%, which was mostly the result of lower exceptional payments.

In the year-on-year comparison, wages increased in all activities except in "administrative and support service activities", where they remained about the same.

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news-5285 Mon, 17 Sep 2018 00:00:00 +0200 Hisense to squeeze out minority Gorenje shareholders https://www.investslovenia.org/news-media/business-news/hisense-to-squeeze-out-minority-gorenje-shareholders-5285/ Ljubljana, 17 September (STA) - Chinese Hisense, which acquired 95.4% in Gorenje earlier this year, has decided to squeeze out the remaining minority shareholders of the Slovenian household appliance maker. The group will delist Gorenje from the Ljubljana and Warsaw stock exchanges. Hisense will give EUR 12 per share to the owners of the remaining 4.58% stake in Gorenje, shows a release published by the Ljubljana Stock Exchange on Monday after the company's annual general meeting.

The Chinese group entered Gorenje as a strategic partner in May, and increased its stake to 95.42% in a takeover bid that ran at EUR 12 per share between 29 May and 26 June.

Today, shareholders also got acquainted with the resignations of supervisors Corinna Claudia Graf, Bernard Charles Pasquier, Miha Košak and Bachtiar Djalil.

They were replaced by Hisense representatives Yeguo Tang, Shaoquian Jia, Huizhong Dai, Caixia Chen, Yuling Gao, Xin Liu and Wenzhong Liu.

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news-5282 Thu, 13 Sep 2018 00:00:00 +0200 State assets holding reports EUR 36.6m in H1 net profit https://www.investslovenia.org/news-media/business-news/state-assets-holding-reports-eur-366m-in-h1-net-profit-5282/ Ljubljana, 13 September (STA) - Slovenian Sovereign Holding (SSH) generated EUR 36.6m in net profit in the first half of the year, which compares to EUR 42.6m reported by the state asset custodian after the same period last year. SSH held EUR 736.2m in assets at the end of June and EUR 551.3m in capital. It had 36 capital investments, 89% of which were owned by the holding. It also managed 64 investments owned by the state, says the report published on Thursday.

SSH said most activities related to investments slated for privatisation by parliament in 2013 had revolved around preparations for the sale of Abanka.

A sales cooperation contract was signed with the bank and a financial consultant is being sought for the sale, due by the end of 2019 in line with promises given to the European Commission.

The holding got EUR 31.5m via dividends based on 2017 operations in the first half of the year, half of which through the dividends of insurer Zavarovalnica Triglav.

The dividends from companies owned by the state amounted to EUR 160.3m, mostly coming from Telekom Slovenije and Abanka and going into the state budget.

SSH also continued to perform its denationalisation-related duties, paying out a total of EUR 3.7m in damages.

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news-5283 Thu, 13 Sep 2018 00:00:00 +0200 Adria Airways in the red again https://www.investslovenia.org/news-media/business-news/adria-airways-in-the-red-again-5283/ Ljubljana, 13 September (STA) - The Slovenia-based carrier Adria Airways slipped back into the red, posting a net loss of EUR 5.4m last year. In 2016, the company was in the black due to the sale of its brand, while last year's negative result is attributed to rising fuel prices. Revenue was up by 1.7% to EUR 159.2m. According to the company's business report, the negative impact of the fuel price hike stood at EUR 4.4m.

Another blow was the termination of a cooperation agreement with an Estonian carrier Nordica as well as the termination of cooperation with Lodz, Poland, Adria said.

On the other hand, Adria saw an increase in revenue from passenger transport to EUR 146.8m.

It transported 1.2 million passengers, up 9.6% from the year before.

The former flag carrier, which was acquired by the German turnaround fund 4K Invest in 2016, conducted 4.5% more flights last year, 20,415.

Adria CEO Holger Kowarsch said optimisation had started at virtually all business segments of the company, "which will enable us to improve business results in the future and adapt easier to the needs of the market."

He noted that the company's fleet had also been modernised and optimised, and announced growth in the segment of scheduled and charter flights, and the transportation of cargo.

Plans for this year include 22,630 flights or a 10.8% increase compared to last year. The number of passengers is expected to reach 1.26 million or 16.2% more than last year. Sales revenue is to go up by 22.8%.

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news-5281 Wed, 12 Sep 2018 00:00:00 +0200 Cinkarna Celje's half-year profit up 63% https://www.investslovenia.org/news-media/business-news/cinkarna-celjes-half-year-profit-up-63-5281/ Celje, 12 September (STA) - Chemical company Cinkarna Celje saw its half-year net profit surge by 63% over the same period last year to EUR 22.7m as sales revenue increased by 4.8% to EUR 98.2m. The bulk of the sales were generated in foreign markets, rising by 6.4% year-on-year to EUR 85.6m, which the management attributed to higher average sales of titanium dioxide pigment, its flagship product.

Sales in EU markets were up by as much as 11%, while exports to the markets of the former Yugoslavia fell by 18% and sales in the domestic market dropped by 5% on the first half of last year.

Commenting on the results in the unaudited semi-annual report released on Wednesday, the management said the performance trumped last year's figures as well as projections.

The main reason is a continuing deficit in titanium dioxide in the market. Value sales of the product rose by 8% to EUR 79.3m despite a 19.6% drop in volume sales.

Capacity-wise, Cinkarna is among the smaller world players in the global titanium dioxide market, comparable to smaller East European operations.

"Considering intersectoral analysis, profitability comparisons and sales price levels, Cinkarna Celje ranks among the top titanium dioxide industry players," CEO Tomaž Benčina was quoted by the report.

Half-year operating profit rose by 59% to EUR 27.5m.

Capital expenditure amounted to EUR 12.1m, which is more than planned due to additional investment in ore storage expansion and rail track reconstruction.

The Celje-based company has already concluded several of the investments planned for the second half of the year. These are aimed chiefly at modernising titanium oxide production, but also at reducing the environmental impact and improving operational safety.

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news-5279 Tue, 11 Sep 2018 00:00:00 +0200 Employers in Slovenia among most optimistic in the world https://www.investslovenia.org/news-media/business-news/employers-in-slovenia-among-most-optimistic-in-the-world-5279/ Ljubljana, 11 September (STA) - Employers in Slovenia are quite optimistic about hiring in the final quarter of the year, with as many as 20% of them planning to increase their staff. The prospects for hiring in Slovenia are thus among the most promising in the region and the world, the latest survey by temping agency Manpower shows. The net outlook for hiring stands at +19 percentage points, up eight points from the third quarter and up six points compared to the same period last year.

While 20% of the 620 employers included in the survey plan to hire, 4% intend to cut their workforce and 74% plan no changes.

The positive outlook was recorded in all ten sectors, most notably in construction (+25 percentage points), financial and business services, insurance and real estate (+23 points) and in transport, logistics and communications (+22 points).

Job vacancies are also expected in manufacturing (+18 points), and in wholesale and retail (+16 points). In mining and quarrying, the outlook is +5 points.

Job openings are expected in all four Slovenian regions, but the most intensive hiring is expected in the north-eastern region (+20 percentage points), an all-time high. In central Slovenia, the outlook for hiring is also the highest in the last eight years of the survey, at +18 points.

In the south-east Slovenia, the outlook is at +13 percentage points and in the south-west at +11.

"In the first three quarters this year, we witnessed a bit more modest outlook for hiring, but in the final quarter the optimism of employers is picking up again. We're looking at an encouraging forecast for the labour market and managing talents well will now become more important than ever," said Nebojša Biškup of ManpowerGroup Slovenija.

Hiring is planned between October and December by employers in 25 of the 26 countries from the region Europe, Middle East and Africa. On the quarterly level, the employment outlook was up in eleven countries and down in nine. Year-on-year, employment opportunities improved in 13 countries and deteriorated in seven.

The most optimistic are employers in Romania and Slovenia, while the least optimistic are those in Switzerland.

Slovenia and Romania, along with the US, where net outlook for hiring also reaches +19 percentage points, are countries with the most positive hiring prospects in the world, preceded only by Japan and Taiwan, where the net outlook is at +26 and +21 points, respectively.

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news-5280 Tue, 11 Sep 2018 00:00:00 +0200 Employers in Slovenia among most optimistic in the world (adds) https://www.investslovenia.org/news-media/business-news/employers-in-slovenia-among-most-optimistic-in-the-world-adds-5280/ Ljubljana, 11 September (STA) - Employers in Slovenia are quite optimistic about hiring in the final quarter of the year, with as many as 20% of them planning to increase their staff. The prospects for hiring in Slovenia are thus among the most promising in the region and the world, the latest survey by temping agency Manpower shows. The net outlook for hiring stands at +19 percentage points, up eight points from the third quarter and up six points compared to the same period last year.

While 20% of the 620 employers included in the survey plan to hire, 4% intend to cut their workforce and 74% plan no changes.

The positive outlook was recorded in all ten sectors, most notably in construction (+25 percentage points), financial and business services, insurance and real estate (+23 points) and in transport, logistics and communications (+22 points).

Job vacancies are also expected in manufacturing (+18 points), and in wholesale and retail (+16 points). In mining and quarrying, the outlook is +5 points.

Job openings are expected in all four Slovenian regions, but the most intensive hiring is expected in the north-eastern region (+20 percentage points), an all-time high. In central Slovenia, the outlook for hiring is also the highest in the last eight years of the survey, at +18 points.

In the south-east Slovenia, the outlook is at +13 percentage points and in the south-west at +11.

"In the first three quarters this year, we witnessed a bit more modest outlook for hiring, but in the final quarter the optimism of employers is picking up again. We're looking at an encouraging forecast for the labour market and managing talents well will now become more important than ever," said Nebojša Biškup of ManpowerGroup Slovenija.

However, despite the employers' optimism, Biškup is not sure whether employment projections will in fact materialise because Slovenia is facing staff shortages.

The demand for staff remains highest in the shortage occupations. This is a systemic problem that is also present broader throughout the EU, Biškup commented for the STA.

Hiring is planned between October and December by employers in 25 of the 26 countries from the region Europe, Middle East and Africa. On the quarterly level, the employment outlook was up in eleven countries and down in nine. Year-on-year, employment opportunities improved in 13 countries and deteriorated in seven.

The most optimistic are employers in Romania and Slovenia, while the least optimistic are those in Switzerland.

Slovenia and Romania, along with the US, where net outlook for hiring also reaches +19 percentage points, are countries with the most positive hiring prospects in the world, preceded only by Japan and Taiwan, where the net outlook is at +26 and +21 points, respectively.

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news-5278 Mon, 10 Sep 2018 00:00:00 +0200 Industrial output propelled by manufacturing https://www.investslovenia.org/news-media/business-news/industrial-output-propelled-by-manufacturing-5278/ Ljubljana, 10 September (STA) - Slovenia's industrial output expanded at an annual rate of 7.3% in the first seven months of the year, owing to a 8% growth in manufacturing, fresh data from the Statistics Office shows. The electricity, gas and steam supply sector grew by 2.6% year-on-year between January and July, while the output in mining and quarrying dropped by 3.3%.

Technological complexity-wise, the fastest annual growth was recorded in medium-high-technology manufacturing (10.4%), followed by medium-low-technology manufacturing (7.8%) and low-technology manufacturing (6.2%). The output of high-tech products rose by 5.2%.

Broken down by industrial groupings, capital goods industries saw a 15.8% growth, intermediate goods industries a 5.4% growth and consumer goods industries a 3.6% growth (durable goods +6.3%, non-durable +2.9%).

In July alone, industrial production expanded by 5.8% on the same month a year ago, while being enhanced by 0.3% compared to the month before.

Industrial turnover rose by 0.8% from June 2018 and increased by 4.9% from July 2017. In the first seven months of the year the turnover rose by 8.2%.

The value of stocks of finished and unfinished production increased by 0.7% from June and by 9.2% compared to July 2017, expanding by 8.2% y/y between January and July.

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news-5277 Sun, 09 Sep 2018 00:00:00 +0200 Žalec beer fountain to be franchised abroad https://www.investslovenia.org/news-media/business-news/zalec-beer-fountain-to-be-franchised-abroad-5277/ Žalec, 09 September (STA) - Europe's first beer fountain, which opened in Žalec in east-central Slovenia two years ago, has proved such a success that it will be franchised abroad. Žalec Mayor Janko Kos says that the Green Gold Fountain has sparked interest among individuals, companies and institutions from Switzerland, Germany, the US, South America and South Africa.

Addressing a recent news conference, Kos said the town decided to protect the fountain with a franchise system in response to demand for similar fountains elsewhere in Europe and worldwide.

The city authorities and the regional development agency have prepared a presentation which includes the story behind the fountain, the franchise model and instructions on how to obtain the franchise.

Preliminary discussions with the interested parties will be conducted by the end of the month.

Kos expects the franchise system will bring in quite some money in the local budget. With the franchise the town will sell the idea and knowhow, as well as charge a 4% cut on each mug sold.

The franchise system is also seen as an opportunity for the Celje-based company Etra, which provides technical support for the fountain, and the mug provider Steklarna Hrastnik.

Since its opening in September 2016 and until mid-July this year, the Žalec beer fountain attracted more than 122,000 visitors, who downed more than 67,000 litres of beer.

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