Dioki’s loss at the end of September this year amounted to 93.9 million kuna, which is 6.3 million kuna less compared to the loss from the first nine months of last year, according to data from the unconsolidated report.
As stated in the management report of Dioki, due to insufficient working capital for raw materials, an unfavorable financial situation, forced collection of receivables initiated by creditors, as well as the cessation of operations of all plants since September 2011, the company’s loss is exceptionally large, but compared to last year, it is nonetheless smaller by 6.3 million kuna. Of the total loss from the first nine months of this year, 44.2 million kuna relates to financial expenses.
The report reminds that, following comprehensive restructuring activities, the company’s Management Board decided in October this year to permanently close the PJ Ethylene, PJ Polyethylene, PJ Chemicals plants, as well as part of the energy modules and supporting business functions related to these plants, and also decided to temporarily close the PJ EPSIK plant and part of the energy modules related to its operation.
In addition, Dioki will implement other operational restructuring measures in the upcoming period and propose a financial restructuring plan to creditors, aimed at meeting the prerequisites for the continuation of PJ Polystyrene operations, preserving jobs, achieving permanent stabilization, and continuing the company’s operations on sustainable principles, the report states.
