At its 19th regular meeting held on 27 August 2015, the Supervisory Board of Sava d.d. became acquainted with business operations of the Sava Group and Sava d.d. in the period January-June 2015.
In the first half-year 2015, the companies of Sava’s division Tourism performed very well.
They generated sales revenues of €30.3 million, meaning a 6% improvement on the same period last year and a 5% improvement on the plan for the reported period. The hotels and apartments realised 381,126 overnights, or just over 5 % more than in the same period last year. The campsites improved their last year’s overnights result by 7%. In accordance with the adopted strategy, the Health business showed positive trends with a 23% increase in provided health services if compared to last year.
Furthermore, Tourism companies efficiently rationalised their costs, which amounted to €28.7 million and in spite of higher sales revenues, they were lower than in the same period last year. An operating profit of €1.7 million was generated, while EBITDA totalled €5.2 million and the EBITDA margin 17.6%. In comparison with the same period last year, EBITDA rose by €1.6 million and the EBITDA margin by 4.6 percentage points. Investments by the companies of the Sava Group amounted to €3.3 million and were entirely realised in the Tourism companies. The Tourism companies generated a net profit of €0.5 million.
The parent company Sava d.d. is in compulsory settlement proceedings. In the period January-June 2015 it made a loss of €4.7 million. The balance sheet total amounted to €208.6 million. The assets and liabilities structure did not change significantly with regard to the end of 2014.
Semi-annual results 2015
Sava d.d.
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