Ljubljana, 13 February (STA) - The tourism holding company Sava posted a EUR 551,000 net profit last year after finishing 2017 with a 1.6m net profit, according to unaudited data. It generated a EUR 1.5m operating loss, which was offset by a EUR 2.2m profit from financial operations.
According to the report on financial restructuring for the last quarter of 2018, published on Wednesday by the Agency for Public Legal Records (AJPES), Sava's accumulated loss stood at EUR 150.1m at the end of last year, which is EUR 1.1m less than at the end of 2017.
The indebted holding said that the operating revenue was in line with plans, with the sale of pledged assets making a significant contribution.
Sava said it had continued with the sale of its stock in the Gorenjska Banka bank last year, concluding a contract with the Serbian AIK banka to sell a 37.6% stake at EUR 298 per share. The transaction is expected to be concluded in the first half of 2019.
Last year the holding acquired an additional 7.61% stake in the hotel operator Hoteli Bernardin to increase its holding to 45.39% in a takeover bid published together with the Bank Asset Management Company (BAMC), insurer Zavarovalnica Triglav and the state-run KAD fund.