The loss of the construction company Industrogradnja in the first half of this year amounted to 37.66 million kuna, according to the business report of Industrogradnja published on the Zagreb Stock Exchange. According to the assessment of the Management of Industrogradnja, the loss is a result of restructuring costs, delays in projects from previous years, and lost lawsuits.
It is noted that the data is not comparable to last year’s as the majority of Industrogradnja’s operations were organized through subsidiaries due to account blockages. Total revenues of Industrogradnja in the first six months amounted to 49.87 million kuna, while expenses were 87.53 million kuna. Against and in favor of Industrogradnja, the report states, there are about 4,500 lawsuits whose effects cannot yet be assessed. Over the past year, it is added, about 500 disputes have been resolved through judgments and settlements.
In July, Industrogradnja signed an agreement with state institutions regarding the settlement of mutual claims, whereby the claims of the Industrogradnja Group were established and agreed upon in the total amount of 31 million kuna and the Ministry of Finance in the total amount of 66.4 million kuna. Both groups of claims relate to the status as of May 15 of this year. The agreement also established that individual companies of the Industrogradnja Group will request a deferral or suspension of enforcement from the Tax Administration after a voluntary mortgage right is established on Industrogradnja’s real estate, and that Industrogradnja will simultaneously withdraw lawsuits against the state and waive claims.(H)
