Europapress Holding (EPH), a newspaper and publishing company in majority ownership of lawyer Marijan Hanžeković, ended the previous year with a net loss of 2.3 million kuna, according to the report on the fulfillment of the pre-bankruptcy settlement plan of EPH published on the Fine website.
According to the report, in the previous year EPH, the publisher of Jutarnji list, Globus, Gloria, and other publications, had as much as 108.7 million kuna in business revenue, significantly higher than the 77.3 million kuna in revenue achieved in 2014. The income statement also states that sales revenue in 2015 amounted to as much as 71.5 million kuna, while in the previous year it was only 30.4 million kuna. However, at the same time, EPH’s total expenses significantly increased – from 45.1 million kuna at the end of 2014 to as much as 111.1 million kuna at the end of the previous year.
EPH also emphasizes in the report that personnel costs significantly increased last year from 7.9 million kuna to as much as 24.5 million kuna, and that net salary and wage costs rose from 4.6 million kuna to 13.5 million kuna. At the same time, it is noted that tax and contribution costs from salaries increased from 2.1 million kuna to 7.6 million kuna.
They also state that in the organizational restructuring of this media company, the companies Media Nexus, EPH Media, and EPH Magazines were merged into the parent EPH, and EPH assumed all obligations of the merged companies based on the pre-bankruptcy settlement. They emphasize that in November of the previous year, other related companies Europa Digital, Cropix, Revije, and Press Express were also merged.
The report, signed by the CEO of EPH Marko Smetiško, states that last year EPH did not take any action that would result in placing the creditors of this media company in an unequal position.
