Business News

Istrabenz Group Loss Narrowed to EUR 6.5M in 2013

Ljubljana, 17 April (STA) - The group around the financial holding Istrabenz ended last year with a EUR 6.5m net loss, which is 85% less than in 2012. Group revenue was down by 2% to EUR 52.2m, according to the audited annual report published on Thursday.

The core company posted a EUR 6.34m net loss last year, which is less than 10% of the EUR 69.43m net loss in 2012.

On the last day of 2013, the holding had a negative capital of EUR 52.57m. It generated EUR 530,990 in sales revenues last year, which is on par with the 2012 sales figure.

According to chairman Andrej Laznik, last year was a new turning point in the financial restructuring of the indebted holding, as it saw a total of EUR 158.86m in debt reprogrammed in agreement with the creditor banks.

In comparison with 2012, the company reduced its financial debt by 13% to EUR 33.89m, the report says.

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