Sava's Turizem continues to generate strong sales and profit growth
At its 3rd regular meeting held on 5 October 2016, the Supervisory Board of Sava d.d. was briefed about performance results generated by the Sava Group and the company Sava d.d. in the period January–August 2016. With regard to the comparable last year’s period, the Tourism division increased its revenues by 4% (€46.4 million), and generated a net profit of €5.1 million and an EBITDA of €11.4 million.
At the level of the Sava Group, a net loss of €3.0 million was made, which is chiefly due to default interests accounted for on the loans obtained by Sava d.d. Upon the voted compulsory settlement proceedings on Sava d.d., the accrued interests will be deducted, and Sava d.d. will again show positive capital, while the implementation of the proposed financial restructuring plan will provide conditions for Group’s profitability.
At this meeting, the Supervisory Board also formed the two working bodies of the Supervisory Board, i.e. the audit and personnel commissions.
Sava d.d.
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