Laško, 13 October (STA) - The supervisors of beverage group Pivovarna Laško confirmed Monday a strategy for the 2015-2019 period, which aims to secure an average 1.8% annual growth of sales, to EUR 175.5m by 2019.
By 2019, earnings before interest, taxes, depreciation, and amortization (EBITDA) are to exceed EUR 52m, the company said.
It announced that a capital increase process worth at least EUR 75m is to continue and is expected to be completed in 2015.
Also to continue is the sale of the investments in publisher Delo and beverage company Radenska, as envisaged in the restructuring and debt extension deal signed with banks in April this year.
Thus, the money flow from the recapitalisation, divestment and coming earnings will be prioritised for deleveraging. The goal is to reach a sustainable debt level by the end of 2016.
The targets are to be reached via 12 strategic initiatives, which also include a formal merger of Pivovarna Laško and Pivovarna Union, planned for 1 January 2016.
In the future the Laško group wants to focus more on development and investment in its own brands.
It plans to strengthen its presence on foreign markets, with a focus on Bosnia-Herzegovina, Italy, Serbia, Croatia and Kosovo, and make forays onto new markets. It will aim to preserve its market shares in Slovenia.
Total five-year investment by 2019 is planned to exceed the amortisation total. Laško wishes to become the leading regional producer of beer and non-alcoholic beverages.