Business News

Worker-Owned Domel Happy with Its Ever Better Results

Železniki, 16 July (STA) - Electrical motors producer Domel, one of the few worker-owned companies in Slovenia, is happy with its business results that are improving from year to year. The company that employs around 1,000 people also puts great emphasis on research and development and attracts young developers by providing scholarships.

Domel CEO Jožica Rejec told the press on Wednesday that revenue exceeded plans in the first half of the year, reaching EUR 46.4m, while net profit was at EUR 1.5m.

Company shareholders earmarked on Tuesday EUR 240,000 for dividends from a total of EUR 5.8m in distributable profit. Management advisor Štefan Bertoncelj said that the company was proud to carry its own weight and that it never distributes the entire profit.

Moreover, the company has several ongoing investments worth between one and two million euros, said Rejec, adding that they also provided scholarships to more than 50 students.

Also present at the press conference was Darja Piciga of citizen initiative Integral Green Slovenia who believes Domel demonstrated an alternative path out of the crisis. She believes an integral model for sustainable development for the entire country could be developed based on EU funds.

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