Deputy Prime Minister and Minister of Economy, Entrepreneurship and Crafts Martina Dalić assessed on Tuesday in Celje that the current business results of Agrokor show that the extraordinary administration has prevented its uncontrolled bankruptcy, thus mitigating significant risks for the Croatian economy and the economies of the countries where Agrokor operates.
“Today we see that the business has stabilized,” Dalić told reporters at the 50th International Fair of Crafts and Entrepreneurship (MOS) in Celje.
She expressed satisfaction that a member of the Management Board at Mercator, appointed by the Slovenian government, confirmed that there have been no transactions outside of purchase agreements. She emphasized that this is yet another proof that increases trust in the extraordinary administration and that it contributes to and cares for the stability of Mercator.
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At the end of last week, extraordinary member of Mercator’s management Gregor Planteu, in his first report on transactions and business between the retail chain and the parent company, stated that there have been no transactions in which the Slovenian retail chain has been harmed in favor of the majority owner.
Nine companies from the food business group – Jamnica, Sarajevski kiseljak, Roto Dinamic, Ledo, Frikom, Ledo Čitluk, Zvijezda, Dijamant, and PIK Vrbovec achieved a cumulative revenue of slightly over 5 billion kuna with an EBITDA of 757 million kuna in the first seven months.
“The quality and course of the extraordinary administration have certainly been contributed to by the decision that ‘lex Agrokor’, or the law on extraordinary administration, is recognized here in Slovenia as an insolvency procedure. Furthermore, this process will certainly be significantly aided if this decision becomes final,” Dalić pointed out.
Improvement of the Overall Condition of the Group
In the latest report from the extraordinary administration of Agrokor, for the period from August 11 to September 10, it is stated that the continuation of financial and operational restructuring leads to improvements in the overall condition of the group, especially regarding the stabilization of the business of retail companies, and that significant progress has been made in the sustainability plan since the previous report.
According to estimated data, five companies from the retail and wholesale business group – Konzum, Tisak, Konzum BiH, Velpro centar, and Velpro BiH achieved a cumulative revenue of 8.79 billion kuna, with a negative EBITDA of 203 million kuna in the first seven months of this year.
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Nine companies from the food business group – Jamnica, Sarajevski kiseljak, Roto Dinamic, Ledo, Frikom, Ledo Čitluk, Zvijezda, Dijamant, and PIK Vrbovec achieved a cumulative revenue of slightly over 5 billion kuna with an EBITDA of 757 million kuna in the first seven months.
Four companies from the agriculture business group – Belje, PIK Vinkovci, Vupik, and Agrokor trgovina achieved a cumulative revenue of 1.59 billion kuna, with an operating profit of 184 million kuna in seven months.
At the Celje MOS, which is held from September 12 to 17, 1,478 exhibitors from 30 countries are presenting, including 50 exhibitors from Croatia. This fair has a partner country for the first time, which is Croatia.
