Maturity for challenges - Delta Holding

Members of the Delta Holding have ambition plans in 2009
Maturity for challenges
”The Plan, which Delta Holding adopted for the
year 2009, represents the challenge not only for
Serbia and the region, it is the challenge of a larger
scale. At the annual meeting we adopted the plan
of the overturn, which would represent more
than 10% of the annual GDP of Serbia, and which is
equal to the domestic product of a few countries
within the region. This represents the biggest
progress and the proof that Serbian companies
could be organized at the European level. Even
in the Europe there are only few companies that
achieved plans and made results, which we represented
today”, said, at the annual board meeting
of Delta Holding, the president of the company,
Miroslav Miskovic.
The president of the Delta Company assessed that
the year 2008 was one of the most difficult year
ever since company had been founded, but successful
again. “We should talk less about those
results, what is waiting for us in the year 2009 is
what we should talk about. The previous period
should serve as the enlightenment, to use experiences
and internal reserves. I believe that we will
enthusiastically, and with efforts put in, will approach
realization of this huge task. “For the year
2009 business system of Delta Holding planned
turn over of 3, 4 billion Euros.
Delta M Group, as the biggest member of the
Holding, in 2008, achieved 50% higher sales incomes
for the first time, market incomes appear
as a significant segment. The biggest growth had
been achieved in retail. Some 440 million euros
had been invested, where 304 million in Serbia,
and 136 million in the countries within the region.
In the year 2009 Delta M Group will not give up
from considerable investments. There is a plan to
invest 370 million euros, out of which 230 in the
country, and the rest abroad. Market growth of
39% had been announced, which means annual total
income of 2, 8 billion euros. Growth from foreign
markets will continue during 2009 and will
reach more than 20% of total income of Delta M
Group.
continuation in 2. pages
In this issue:
Stiglitz, Nobel Prize
awarded visit
GROWTH IN THE
YEAR OF CRISIS
No.
38
.february 2009
Amy Moore, designer
EXCLUSIVE SHOPPING
MALL AT AUTOKOMANDA
Opening of
BMW and MINI centre
AWARD FOR COOPERATION
The best in 2008
PRIZES FOR THE
BEST MANAGER

Annual meeting
continuation in facing page
Delta Agrar completed year 2008 as a multifunctional
system that provides even 35 various activities.
At the mid year the system Agrar included
food production. So, at present this biggest agro
system in Serbia comprises complete chain which
is popularly called “from the field to the table”.
The results of Delta Agrar with the primary production,
according to independent sources, are
holding record within the whole region. At almost
17.000 hectares, which this system cultivates, the
most contemporary technologies are administering.
Among number of planned projects for
the year 2009, the founding of the new company
in Moscow is in the focus, which significance prevails
over the frame works of Delta Holding. That
is to say that from February 1, Delta Food Moscow
is launched officially, as an agro distributive centre
for fruit, vegetables, meat sale at the Russian market.
The factories in the Food Processing (Yuhor,
Danubius, Florida Bel) are planning significant investment
in the equipment and production improvement,
and great expectations are focused to
the youngest member Calido Cafe, which recently
launched coffee Amato at the market.
Delta DMD Grupa accomplished income of 245
million euros in 2008. Yuhor products and Vivartia
brands, and Shark joined distribution centre
last year, while the distribution network had been
enlarged by opening of our own object in the city
of Podgorica of some 3,600m ². DelvelPro had
changed its visual appearance in the year 2008;
renovated exhibition room had been open in Belgrade
and wholesale centers in Subotica, Cacak
and Nis. The Delta Transportation Service started
in October, the company, which provides logistic
services to the members of the Delta Fashion and
to the third parties, which overreached planned
sale for 4% . Previous year was extremely successful
for Delta Fashion, which overreached planed
sale for 4%. „In 2009 Delta DMD Group is planning
income growth for 68% and the turnover of 410
million euros. We expect cooperation improvement
with existing partners and conquering of the
new programs, building of the distributive-logistic
centers so as the realization of the HoReCa project.
DelvelPRO plans maximum coverage of the Serbia’s
market, and realization of the group’s goals
will contribute to the integration of the members
into DTS and expanding of retail network of Delta
Fashion“, said the director of Delta DMD Grupe
Darko Jelić.
Operational activities of Delta Auto in 2008
marked two periods. First, which successfully realized
planned activities lasted till September. After
that auto sale had marked decline trend as
the consequence of the global crisis in the auto
industry, and its effects at the domestic market.
Though, Delta Auto managed to conclude the year
with 87, 5% of sold vehicles and 93% of planned income.
The biggest BMW center had been opened
at the Balkan so as the logistic center in Dobanovci.
„This year we plan increase of sold vehicles and
income higher for 11%. We will try with lower margin
profit rate and bigger turn over to achieve the
plan and preserve our clients”, emphasized the director
of Delta Auto Miloš Petrović.
2
Delta Maxi Serbia ended year 2008 with 342 objects
in 46 cities and near 10.000 employees. In
the previous year 39 new shops had been open
and 124 million bills issued. Planned sale had been
overturned for over one billion dinar. Private
trade mark development is in process, which covers
1.250 products, which is 10% of the total sale respectively.
Special accent is on the actions that
promote socially responsible business. At the regional
plan Delta Maxi International is present at
the four markets: Montenegro, Bosnia and Hercegovina,
Bulgaria and Albania. At the beginning
of the previous year 31 Delta Maxi shops had activities
in the region, and at the end of the year it
reached figure of 82. At the level of Delta Maxi
Group we plane opening of 69 new shops in Serbia
and 48 in the region. It is expected employment
of 2.000 employees in Serbia, and 2,500 employees
abroad. In 2009 Delta Maxi Group plans
growth of 40%, of total sale amounting 1, 85 billion
euros respectively. „We are the fastest growing retail
chain in the region. This trend will continue in
the year of full of challenges”, said the director of
Delta Maxi Group Dragan Filipović.
Financial services Center overturned business
plan in 2008 in spite of extremely difficult situation
that hit the market in the last quarter. Delta
Broker, according to participation in a value of
trade at the stock market, got second place comparing
with fourth place in the year 2007, and the
success remained in relation with same number of
clients. The funds that have business within Delta
Investments, at the end of the last year had 27% of
the share market. According to the words of the
director CFU, Mrs. Radmila Bajević, plans for this
year are to increase market share and number of
clients, the start of the closed fund for real estate
investments and introduction of e-trading.
Delta Real Estate with its projects already took
the position of the leader in the region of ex Yugoslavia
and Albania. Although the world economy
crisis hits real-estate branch the most, director
general, Dejan Racic announces continues activities
with all commenced projects. Delta Real Estate
will continue in developing its image and the
brand, and the best arguments in favor to these
facts are projects such as Belville. Due to the nature
of the activities the plans of Delta Real Estate
are connected to the five years period, and those
plans are really ambition: five regional malls of Delta
Planet, nine shopping-malls of Delta City, 18 retail
parks in the region...
Delta Invest, which is behind Delta’s construction
projects, in the past year, worked on even four national
markets such as: Serbia, Montenegro, Bosnia
and Hercegovina and Bulgaria. Founding company
Delta Construction the management and
conduct processes had been circled, and the event
of the year is for sure the lodgment Belville, which
Delta Invest will hand over to the city of Belgrade
significantly prior to the estimated term stated in
the agreement.
Successful year had Delta Star Group as well,
which in 2008 made sale for 26% higher than planed.
„In 2009 we plan to achieve total income that will
be higher for over ten million euros in comparison
with the previous year. Jugohemija will start with
cooperation with Tevom this year, pharmaceutical
company from Israel, which is one of the leaders
at the world market. The network of Celsius pharmacies
will enlarge with new shops in Montenegro
and Republika Srpska”, said the director of iJugohemija
Smiljka Mileusnić-Adžić.
In the past year Delta Generali Insurance became
bigger for two companies, founded in Montenegro,
and in spite of the crisis the number of
employees increased for 500 new employees. Total
amount of premium increased for 33%, significantly
higher than it was insurance market growth
in Serbia, and reached 8, 5 billion dinar. The growth
had been marked in all sectors, with almost ideal
structure of portfolio. In 2008 Delta Generali Insurance
launched direct sales and web shop, as their
own service of medical assistance in five countries,
where our tourists travel the most. For 2009 director
general Nebojša Divljan announced significant
projects such as: opening of the new companies
in the region, starting with the own polyclinic
that would meet high criteria in health insurance
of Delta Generalya. The Company will introduce
standard ISO9001 and implementation of SAP as
well.
Business year 2008 for Delta Sport Group was
positive in compliance with all parameters. The
agreement with Inditex is prolonged till 2014, and
distributive rights are granted for Macedonia,
Montenegro, and Bosnia and Hercegovina. New
markets are conquered, new brands introduced
and overtaken distribution rights of the trade
mark Mango. The growth of the trading of 59%
and investments of 129% had been marked. „This
year we mapped out increase of trading of 41% in
comparison with 2008 so, the planned trading at
the end reaches 221, 6 million euros. We will open
31 shops in this year, so the total number will be
125 shops in the country and within the region. In
spite of the economy crisis we will increase the
number of employees. We are planning development
of the HoReCa sector, opening of the wellness
centers and the bowling clubs chain. We
signed the agreement on cooperation-duration 15
years with famous English toys’ seller Hamley’s for
South East Europe”, said at the board meeting the
director of Delta Sport Goran Karić.
Delta’s office for
International relations
The president Miroslav Mišković announced
founding of the Delta’s office for international
relations. This, according to his words, it is an
official verification of the significant activity,
which within this field in the past months, had
vice president of Delta Milka Forcan – starting
with the organization of meeting of Serbian businessmen
and EU officials, then participation in
inauguration of the American president Barrack
Obama, to the World Economy Forum in Davos.

With Nobel Prize Stiglitz Delta Generali Insurance celebrated 10 years of work
Growth in the year of crisis
Delta Generali Insurance celebrated
ten years of successful
business in Serbia organizing
the visit of the prominent
economist and Nobel Prize
holder professor Joseph
Stiglitz, who dedicated his
lecture to the global economy
crisis and its impact to the
area of Balkan.
The lecture and gala gathering
attended prominent economy
experts, businessmen,
and diplomats from foreign countries, media, and among guests there
were number of representatives from political and commercial life of Serbia.
The host of the evening Nebojša Divljan, the president of the Managing
Board and director general of the company Delta Generali Insurance, emphasized
that the strategy of this insurance company, which will complete
the year with share market of around 16 percent and with 8,4 billion dinar
of total premium, firstly is the development.
“When I would choose between the growth and the profit, I would say –
our strategy is the development The development means – new products,
new distribution channels combinations, satisfied clients, and if that produce
the growth of our market share, it is good, and if that produce low
profit, it is good again“, said the director Divljan.
In the occasion of ten years of successful business, Sergio Balbinota, in his
address congratulated the company on this important jubilee: “Ten years
of Delta Generali - very long path, but with extraordinary results, When I
look at the Company today, I can say that this company is one of the best ,
if not the best company at the Serbian market. If I analyze macro economy
surroundings in the past ten years in Serbia, we have very strong growth
of GDP, we have very strong growth within insurance field, but Delta Generali
achieved even bigger growth. This is not something that happened
by accident. This is the result of many things, starting with the strong management
with comprehensible ideas, clear vision and this is the result of
the effort of every single employee, so I would like to thank all of you for
the effort that you made in Delta Generali”.
Excursion to Russia – for the
best life insurance clerks
The best life insurance clerks in Delta Generali Insurance visited Russia in October.
After picturesque India and Mediterranean cursing, the company awarded
46 the best life insurance clerks in 2008 with the excursion to Russia. Stay in
the country that lays on two continents and with its size and beauty leaves no
one indifferent; the trip covered visits to former and present capitol Moscow
and Saint Petersburg.
Delta Generali
In occasion of tenth anniversary of the company, the president of the
managing board and director general of Delta Generali Insurance Nebojsa
Divljan, got special gift from Generali Group – gold statue of „Generali“
lion, symbol of a strong group, presented by Lorenzo Kravina.
Present guests and the host greeted the president of Delta Holding Miroslav
Mišković emphasizing: „You are very well aware that Delta always
achieves good results. I think that the results within insurance branch extremely
good, for which we received recognition from the director general
of Generali group Balbinota. I can say that we have a great support from
him for the future development of Delta Generali. In the period to come
we expect increase of market share and even better results“.
The speech of the
Nobel Prize holder
Stiglitz about
America and the
beginning of the
crisis, possibilities
that Europe
will face with the
bigger economy
crash than America,
so as the consequences
that
the countries of
Eastern and South
East European countries will face produce great attention of present
guests. At the panel discussion, which was after the speech, with the Nobel
Prize holder spoke vice Prime Minister of the Government of Serbia for
European integrations and the minister for science and technology development
Bozidar Djelic, professor at the Law faculty in Belgrade Phd. Miroljub
Labus and chief in editor of the weekly magazine “Vreme” Dragoljub
Zarkovic.
In the banquet room of the Hyatt hotel, among numerous guests were
Minister Slobodan Milosavljevic and Tomica Milosavljevic, state secretary
Slobodan Ilic, Aleksadar Vlahovic, Miodrag Kostic, Toplica Spasojevic, Miroslav
Miletic and many others.
3

Delta Real Estate
Project designer Amy Moore
Exclusive shopping
mall at Autokomanda
“With Delta we have one of the most professional relationship of all clients, which is not to something to be surprised of if we
have in mind the reputation which your company has, and the similarity of the mentality and closeness of two nations”, said in
the interview for the paper “Delta Danas” during his recent visit to Belgrade Amy Moore, project designer pf the shopping malls
of Delta City in Belgrade and in Podgorica and the future Deltia’s shopping mall at Autokomanda, which construction launch is
planned till the end of the year.
Amyi Moore stresses that Delta’s vision in relation with development and
expanding at the market of the South East Europe is what determined him
to start cooperation with the biggest Serbian company: “Delta has excellent
engineers, which develop every concept from the start till the end. I
like that we always know whom and what to ask in Delta. Projects are filtrated
jointly in accordance with local customs and the taste so as with
understanding of the request
of the surrounding”.
Moore made projects,
together with his assistants,
of around 100 million
square meters at various
locations all over the
world, but good relation
with Delta is most probably
the reason why the
project at Autokomanda
he did it himself.
Vision of the project and the designee of Autokomanda are unlike Delta
City in New Belgrade. Since residential area is near by such as - Dedinje,
Voždovac, Vračar, and central part of the city, the future object at Autokomanda
will have certain level of exclusivity in regard of project solutions
and interior with 45.000m² of business area, shops for rent respectively.
According to his words, this will be unique “Mall of Serbia” on three levels.
At the underground floor there will be a supermarket, and on the top floor
4
there will be entertainment facilities – restaurants, fitness rooms, game
house for children. Of course, majority of the facilities will be boutiques
and shops of the world leading brands. Beside parking space at the lower
level, every floor will have parking space for 250 parking lots.
Specific aspects of this shopping mall will represent cupola as well, which
surface will be 1.500m² that will provide object with natural light, which is
actually recognizable mark of every object signed by Amy Moore. Introduction
of energy efficiency system, shopping mall at Autokomanda will
be classified as a “green building”.
Beside Autokomanda, Moore currently works with Delta Real Estate on
the projects of the shopping mall Stozice in Ljubljana, and residential-business
object in the street 29 November in Belgrade. Shopping mall in Stozice
will have around 65.000m², with lots of natural light and variety of facilities,
there will be amusement park and number of restaurants. Moore
emphasizes that the location is perfect as it is located at the “ring circle”
and that joint idea to offer Ljubljana and Slovenia new, unique concept.
Before and now – shop in Cika Ljubina Street

Former practitioners
are our colloquies in Delta M Group today
Delta practice
as a springboard
First steps at the practice in Delta M Group, and than
job in the company. This is the path which many of
young under graduates and graduates from Belgrade
faculties take.
Last year, in May and July, Department for Human
Resources of Delta M Group one more time realized
Delta practice and former practitioners are young
colloquies with six months experience in the company
today.
“The tasks that I have conducted during the program
of Delta practice were less complexes and I have conducted
it with experts’ help and mentors’ monitoring.
Present task require greater knowledge of the
assortment and brand characteristics, company’s organization
knowledge and way of business conducting”,
said Ana Božović, assistant manager in Delta Motors.
Mirjana Mirković, clerk at the financial department in Delta Agrar, confirms
that during practice she got assignments that introduced her with
the job with finance only. “Through practice I learned, and as the employee
I am getting assignments that are more responsible, terms that must
be met, and at the same time to keep precision and requested form”.
“That was good practice for the job that I have today, first of all thanks to
good mentors which shared their knowledge with their practitioners”, assessed
Filip Korjenić, clerk at the department for export and import in Delta
Maxi. “I think that every employee needs to know not only what is in relation
with his job, he needs to know other departments with which one
cooperate”, adds Nemanja Ivković, assistant in the logistic in Delta Maxi.
Jelena Vukoman also, through practice in Delta, became clerk in the financial
department in Delta Fashion: “Our Company is characterized with a
team work and positive atmosphere that significantly influence on productivity
as well. Due to help of our coleus I think that I have managed very
quickly to adjust to new business ambient”.
Ana Kolarević, quality system clerk in Delta Maxi, said: “The atmosphere
outdid my expectations. Here we have a team of young people and I am
very happy with cooperation with colloquies”.
Scholars visited us
Human resources department
was the host, mid
January, in the business
building of Delta Holding,
to the group of 10 students
that have Delta M Group
scholarship. Students
had opportunity to see,
through presentation, activities
and showed great
interest for all segments of the system. Scholarships are part of the humanitarian
activities that are conducted from the part of the club “Businessmen”
continuously from the year 2006.
Vladimir Stanković, brand manager, Delta Sport
Link between
marketing and sport
After period of three years that he spent in Delta Sport, Vladimir
Stanković, brand manager for Nike, got a new position in the Nike office
for Europe, Near East and Africa, which is near by Amsterdam, Netherlands.
HR
„I love to say that I will lice in Amsterdam, and will work all over Europe“,
said Stanković in his interview for Delta Today.
Did, and in what extent, the situation at the market changed during the
period of time that you had spend in Delta Sport?
I came to Delta Sport from the very beginning, when the management
of the company had been changed. Thanks to new strategy, in the mean
time we became leaders within the
sport branch in retail, and strong market
player within the whole Balkan. We
accepted new tendencies and adjusted
our business to the world companies
with which we had cooperation. When
in 2005 the new monograph had been
made about 110 years of football in Serbia,
there were no single photos with
Nike symbol. Please open news papers
today and you will see how many teams
are wearing Nike equipment.
Conditionally speaking, what was the most difficult, and what was the
most beautiful thing during that period of three years?
The most difficult was to link business principles that Nike implements
in Europe and in the world with the conditions of conducting business
in Serbia. I think that the biggest step had been made within that area.
Brighter side of the business is that I learned from the best and had
opportunity to work in the biggest company in the South East Europe,
with the team that is always one step ahead from the competitors. At the
same time I had many friends in the sport and out side the sport sphere.
There was lots of traveling as well?
Nike is hedonist brand, which links business and pleasure. The business
philosophy is arranged in a manner to make their employees free of bondages
and formalities. If I have to list all my destinations, I could not list
them all. Let’s say Kazakhstan, where I was with football national team.
As a tourist I would never think to go there, and I spend few very nice
days there. Those are the things that one remembers for the whole life.
Is there a difference in relation with jobs that you will conduct in Amsterdam
comparing with jobs you had here? What are the challenges?
At some extent, yes there is. My job will be training of the brand manager
at the area of South East Europe, Baltic, Africa and Near East, which cover
over one billion people in 69 countries and is counted as a weaker market.
There is a challenge for me, since Serbian market was in the same position
three years ago, and at present it is mid developed markets of Western
Europe countries.
Is the next step world headquartering of Nike in Portland, Oregon?
(Laughter)... Long time ago, I though my self not to be a slave to prejudices.
So, why not?
5

Delta Maxi
The best in the year 2008
Awards for managers
At the traditional annual cocktail with the president of Delta Holding
Miroslav Mišković, the best manager of Delta Maxi had been announced.
The best in 2008 was
Sava Racić, manager
in Maxi 230 in Vršcu,
who got the award
for his successful
business conduct,
and the award was
the car Honda Jazz.
Tanja Ivanišević, Dalibor
Marunić and Nebojša
Mitić. Also 30 employees
got cameras, pc,
LCD monitors, photo-
cameras, television
sets and home cinemas.
Beside that, the
money, which had been
used for organization
of annual celebration
of Delta Maxi, had been
redirected and used for
money awards for 150
more employees.
6
The award of
3.000 euros got
Slavici Pavlović,
while LCD TV sets
got Dejan Lukač,
Milena Pejović,
New Maxi supermarkets
Near by the cross road for Kotor and Tivat, at the Adriatic magistral road,
on December 26, 2008 it had been open new Maxi supermarket in Montenegro.
On the very next day, Budva got its Maxi supermarket.
The tradition in helping institutions of the public importance continued
while opening these two supermarkets
took place. Donation
of three PC and two air conditioners
had been sent to the kindergarten
„Bambi“ in Tivat, five air conditioners
were sent, as a present, to
the kindergarten „Radost“ in Kotoru,
while kindergarten „Ljubica
Jovanović-Maše“ in Budva is richer
for five PC.
First delicatessen shop is open
Maxi Exclusive
The heaven for hedonist
As world metropolis, Belgrade also got its exclusive delicate shop in the
down town. Maxi exclusive, the first shop of that kind is located in the
street Čika Ljubina, and represents an real heaven for hedonists and people
of a fine taste, where they can find supreme delicates such as: goose
and duck pâté, famous hams and
cheese from Europe, sea fish, variety
of exotic fruits and vines of the
best quality from all continents.
a half million euros. In the next two
years Delta Maxi will enlarge its network
with ten more shops like this
one, out of which five will be in Belgrade.
For reconstruction and shop equipment
it had been invested one and
Delta Maxi up until now, invested in Montenegro 53 million euros. This
year it is planed opening of the objects in the city of Niksic, Bijelo Polje,
Igalo, Herceg Novi, Ulcinj, Kolasin and new object in Bar and Podgorica. At
the moment we are seeking for the location in Podgorica for the first Tempo
center, which opening is expecting during the year.
Delta Maxi enlarged its network in Serbia by opening the object in Priboj,
Novi Pazar (two objects) Raska, and Brus and on Kopaonik.
Special interest caused opening of the first Mini Maxi shop within the complex
Konaci - Sunčani vrhovi on Kopaonik. The shop of unusual designed
interior and specially conceited assortments, which is adjusted with the
needs of the tourist centre and its visitors, and the shop visit some 2.100
customers daily.
The opening came together with the donation to the educational institutions.
PC got High School in Priboj and Economy-sales school in Novi Pazar.

Delta Maxi Group
got certificate ISO 9001:2008
Delta Maxi is the first in Serbia that is certified in compliance with the new
standard version ISO 9001:2008, only two weeks after publication from International
Organization for standardization. The controllers of the Austrian
certification company Quality Austria highly appreciated in their
evaluation the level of arrangement of the objects of Delta Maxi Group,
comparing it with the European retail chains.
New Piccadilly
supermarkets in
Vidin and Samokovo
At the end of 2008 Picadilly opened two new supermarkets
in Vidin and Samokovo. The supermarket in Vidin, the first
Piccadilly object in North-West Bulgaria, two million euros
had been invested, and in occasion of opening it had been
sent the donation for renewal of the city square in Vidin.
Delta Maxi
Improvements which Delta Maxi Group introduced in its business activities
are, before all, related to the readiness and capability of the company
to produce and provide services continuously, which meet customer’s
needs, and h provides even easier linkage and quality management’s system
integration with other management systems (environment protection,
safety and security at work, social responsibility...).
“Days of American cuisine“in Piccadilly”
Manifestation called “Days of American cuisine” was held at the end of
2008 in all Piccadilly supermarkets and lasted almost three weeks. The
opening of the manifestation in the object Mall of Sofia attended the ambassador
of the USA in Bulgaria Nancy McEldowney, who at that occasion
presented her skill in preparing specialties of the American cuisine, while
the visitors could taste variety of American food and vines.
Piccadilly traditionally organizes the Days of the National cuisine with the
goal of promoting the cuisines of different countries. „This is one of the
ways to get to know the tradition and the culture of various countries,
which contribute in closing of the nations “, said at the celebration opening
Aleksandar Čamparević, director general of Piccadilly.
Piccadilly supermarkets, from January 12, stopped the sale of plastic bags
and exchange them with bio disintegrated. New bags are available in all
Piccadilly supermarkets.
Reduction of use of plastic bags will contribute the action in which participate
all costumers, whose bill is over 70 lev, and as the present they get
“In 2008 we invested around 16
million euros and opened over
500 new jobs, and during first
nine months the turn over of our
trade chain is increased for 30% in
comparison with the same period
in 2007. Till the end of 2009 we are
planning to open 20 new objects of
Piccadilly and Piccadilly Express”
form, said Aleksandar Čamparević,
director general of Piccadilly.
Piccadilly introduced bio disintegrated shopping bags
new bag for multiply uses. The bags have visible logo -message: “The decision
is in your hands”. The bags are made of non toxic and non allergic material,
which is 100% recyclable and look the same even after few washes.
With this Piccadilly initiated the campaigned for environment protection
and reduction of pollution from polyethylene waste.
7

2008 at glance
8
• Held meeting of Delta Holding, announced new
company’s goals: leading role in Serbia and South East
Europe
• Delta DMD started with distribution
of Vivartia company’s
products
• Delta Generali insurance at
the regular annual meeting announced
for 2008 penetration
of the magic figure of 100 million
euros premium
• The president of Delta Holding Miroslav Mišković
got the award from BMW as the best partner of this
company in the region.
• Delta gave the best bid for purchasing the estate
of the Company International CG in Prospect
20 in New Belgrade
with Hotel Continental
• Delta Insurance
and Delta Life insurance
started to work
in Montenegro. Milo
Djukanovic, PM of
Montenegro attended
presentation
• Human resources department of Delta M
group promoted the Program young talents and
presented the first generation of attendants
• Delta in the consortium with the company Zekstra
bought Robna kuća Boska in Banjaluka
MAY
JANUARY
MARCH
• The first Tempo opened in Republika Srpska
• The director of Delta Agrara Dejan Jeremić
acclaimed as the best manager within the Serbian
agro business
• Trade Leaders Club granted
the director of Delta
Maxi, Dragan Filipović international
award for quality
of service and implementation
of standards in
business
• The Agency Europaproperty.com
acclaimed Belgrade’s Delta City for
the trading project of the year in the region
• Delta Insurance and Delta Life insurance got work
license in Montenegro
• Maxi Online started to
work in Novi Sad and Nišu
• Delta Maxi started long
lasting action in help to
the food bank and to disabled
persons
• In occasion of 7 years of
work, Maxi donated valuable
machine to the Oncology Institute in Vojvodina
FEBRUARY
• Delta Holding donated to the Clinical Center of Serbia
valuable ambulance vehicle
Fiat Ducato
• The water Voda Aqua Gala
from Mioni got International
NSF certificate for quality
• Delta Real Estate announced
renovation of the hotel Continental,
which will become
prestigious brand Crowne
Plaza
• Delta Agrar presented orchard, supreme plant of apples
at the farm in Podunavlje in Čelarevo
• Pre contract
on sale of the
future shopping
mall Stozice in
Ljubljana it had
been marked
the access of
the Delta Real
estate at the
market of the European Union
• In Varna it had been opened hypermarket
Piccadilly, the first ever since the
Delta Maxi overtook this trading chain
• The first Supermarket in the Federation
of Bosnia and Hercegovina in the
city of Jajce is open for business
• In Budva’s ancient part of the city the
first Costa Coffee is opened in Montenegro
APRIL
JUNE

JULY
SEPTEMBER
opened in Staro Zagora
• Apartments sale
started, so as business
areas and garages
in the lodgment
of Belville
• Delta Maxi overtook
trading chain
Ela in Montenegroi
• Within the program
Fund for the future, organized by Delta, children
from the campuses spent vacation in Greece
• Journalists got presentation of pigs’ farm at the
farm Napredak in Stara Pazova, the most modern in
the wider region
• The Prime Minister Dodik
attended the opening of
the Tempo center in Banjaluka
• Delta Generali insurance
with the action “Apple or
the lemon” warned on the
jeopardized children on the
streets due traffic
• Mexx shop in the center of Sarajevo is in business
• Delta Sport opened the first Aldo in Knez Mihailovoj
Street as well
NOVEMBER
• The salon of BMW
and MINI opened in
Belgrade, the biggest
in the region of Balkan
• Belgrade Delta City
celebrated its first
birthday
• New Piccadilly, value
2, 5 million euros,
DECEMBER
• At the Fair on employment
young people
had been questioned,
and they said that they
would choose Delta as
the most desirable employer
in Serbia
• Agreement on constriction
of the shopping
mall in Stozice had been signed
• Representative object Sport Impulsa had
been opened in the center of Belgrade at Terazije
square
OCTOBER
2008 at glance
• Delta City in Podgorica
is opened, the first Delta’s
shopping mall out of
Serbia. The opening ceremony
attended Prime
ministers from three
countries of the region:
Serbia, Montenegro and
Republika Srpska
• In the organization of Delta Holding, the first meeting
of the businessmen from Serbia and the officials
from the European Union took place in Bruxelles, with
agenda on European integrations
• Delta Holding rated among ten the most successful
companies of the South East Europe
• Our chasing of the factory Standard in Sarajevo under
contract
• Tenth anniversary of Delta Generali insurance
marked with the lecture of the Nobel Prize holder,
American economist Joseph Stiglitz
• Young couple
bought 1000th
apartment in the
lodgment of Belville
• Delta Maxi Group
the first company
from Serbia certified
in compliance
with new version of standards ISO9001
• Delta Sport and Delta Maxi initiated young
disabled people employment
• First Maxi Exclusive, specialized delicatessen
shop is open
• According to the rate of the magazine Economist,
Delta Holding is the third company in Serbia
in relation with total income after NIS and EPS
AUGUST
9

Delta Humanitarian Fund
Employment
of disabled persons
Delta Maxi and Delta Sport in cooperation with the Forum of the young
disabled people (FMI) initiated the project of employment of disabled
persons (OSI), which will be realized under
sponsorship and in coordination with Delta
Humanitarian Fund. The agreement on cooperation
signed the president of FMI Željko
Ilić and directors general of Delta Maxi Group
and Delta Sport, Dragan Filipović and Goran
S. Karić.
This is for the first time in Serbia that it is introduced
long lasting cooperation between
the business and NGO sector with the goal to
assert social involvement of the disabled persons
and their employment.
Prior to the employment of the disabled persons, employees from Delta
system will undergo expert education in preparation for work with mentioned
population. It is already published selection of business units that
are completely accusable to the disabled persons, so as those which will
undergo additional adaptations.
At the preparatory phase in realization of this project, disabled persons
will be employed at the working positions within the administrative department,
IT department and in the direct sale. Selected candidates will
be providede with the equal legal status, posibility for promotions and additional
trainings so as for other employees within the systems of Delta.
New Year’s gifts for
disabled children
In the occasion of New Years
and Christmas holidays,
Delta Humanitarian Fund
with the help of the donation
from Delta Maxi, Delta
DMD, Delta Fashion and Delta
Sport, provided gifts for
925 members of various children
associations with physical
and mental-intellectual
disorder.
Ministry for labor and social policy on December 27, in Sava Centre organized
New Year’s show “ The small Princes” , where together participated
professional actors and members of the Association of the disabled persons
“Stari grad“.
Delta Maxi Banjaluka made happy the protégées of the „Safe house” with
New Year’s show, which performed actors from the Theatre of youth
„Dis“in December. Children got new years gifts given by Saint Clause.
10
Donation to the people
of Roma settlement
Minister of labor and social policy Rasim Ljajić and the director of Delta
Maxi Serbia Rajko Mandić presented donation of 160 food products – hygienic
products and 250 gifts for the children in Roma settlement in the village
Prćilovica near Aleksinac.
Minister Ljajić thanked Delta Maxi for the donation, emphasizing that this
donation went in the right hands.
“This year too, Delta Maxi will realize socially engaged actions and projects,
directed toward improvement of common social ambience. This proof our
decision that all the means for financing business representations would
be directed toward charity purposes”, said Rajko Mandić.
You are what you eat
With the intention to promote healthy style of nutrition when children
are concern so as adolescent, and in obese prevention, Delta Maxi Group
initiated the project „You are what you eat “. Project realization is developed
in cooperation with Pediatrician association of Serbia, and in promoting
of the social game for children, which supports the idea of healthy
nutrition.
Data on increase of the number of obese children, especially in cities,
were crucial for Delta Maxi as the biggest trading chain to initiate the action
directed toward children and adolescent education.
Wishing to support activities of the Pediatrician Association the fund had
been founded in which Delta Maxi, initially placed payment of 10.000 euros,
which will be spent for various projects (publishing, organizing of
seminars, education). As the support of this action it had been designee
social game action with number of funny messages that assert well, and
approbate bad habits in relation with children nutrition.
Money for gifts
redirected to children
New Year’s magic in the „Safe house“
The means for the business representation and the gifts for the New Year
the members of the Delta Holding system redirected it into the budget
for solving problem of the children without parents and for the children
who are suffering of mental-intellectual disorder. The goal is to improve
life quality of these children, and it will be built the object in compliance
with most contemporary European standards. The project will be realized
by Delta Humanitarian Fund on behalf of the members of Delta Holding.
The visit to the “Safe house” is the part of the project „New Year’s magic
“which is realized every year.

University city
Belville
One thousandth signed contract
Young couple Darinka and Bojan Maleš is thousand buyer of the apartment in the University lodgment
in New Belgrade. They signed the contract, on December 9, 2008, officially before the representatives
of the company Blok 67 Associates, and after that they went together with Aleksandar Živanović, construction
manager, to see, for the first time, their apartment, which is in the final stage. Darinka and
Bojan at present live with their parents with their small child in Mirijevo, and could not wait to move
into their apartment of 53m².
New brand from Delta Agrar
Amato - coffee
became the biggest in Serbia
Waken up love Chain of 36 objects
Calido café, the company that is running its
business within Delta Agrar, launched at the
end of December new brand at our market
- for long period of time presented Amato
coffee.
Amato coffee, under slogan “Waken up
love”, as selected name had been associates
with love. Calido coffee appeared at the
market with two tastes of this coffee. Amato
Minas is a fine grained mix, for the consumers, who enjoy in traditional
strong taste of domestic coffee. Amato Suprimo has several kinds of coffee
and has richer, more sophisticated taste. Amato coffee is available in
packages of 100 and 200 grams.
New step toward most contemporary pig
fattening at Delta’s farms
Nucleus center
Is open for business
At the end of the last year Nucleus center is completed, it could be said
that it represents the key part of the modern pig fattening at the farm
Napredak in Stara Pazova and within complete Delta Agraru. At this farm
it will be production of pigs for commercial farms within our company,
with the goal in improvement of genetic code and quality of fatling.
The farm manage managers, which beside MBA and PhD studies, during
2007 in Denmark, completed eight months academy for managing
the farms. The farm is completely blocked type, with the highest level of
health status that meets the most rigid principles of bio security.
Network of Agro Pharmacies
At the end of 2007 Delta Agrar started
in forming the chain of Agro Pharmacies.
Today it is a network of 36 retail
objects in whole Serbia, and the
biggest retail chain of this type in the
country and in the region.
Belville / Delta Agrar
The Project Agro Pharmacies currently
employ 94 employees, and
provides services of a high quality,
and offers variety of assortments in
number of dozens commodity groups, which means that the leading position
in the future will be stronger.
Delta is the participant and the sponsor of the
International gathering at the faculty for Agriculture in
Zemun
Safe nutrition
in practice
The Company Delta Agrar, as the biggest agro system in Serbia and the
company which implemented among its members, all required quality systems,
and was one of the sponsors and participants of the International
gathering “Safety in the food chain”, which took place at the end of 2008
at the Faculty for Agriculture in Zemun, organized by International Association
of students of agriculture and related disciplines.
Company’s presentation and the lecture “Usefulness of HACCP” held Ivana
Marković, quality manager in Delta Agrar, and the students from number
of European countries had the opportunity to visit pak center Florida Bel
and satisfy oneself in implementation of regulated quality systems.
11

Press Clipping
12

Opening of BMW and MINI center in Belgrade
Award for
cooperation
Delta Motors opened the biggest sales-service
center for BMW and MINI vehicles in Balkan,
second in Europe regarding its size. Total
investment amounts 12 million euros, and the
construction lasted less than a year.
Opening of the center on Čukarička padina in
Belgrade attended higher vice-president of
BMW for import markets Kaj Zegler and director
general of BMW for the region of East
Europe, Africa and Caribbean Rudolf Wallisch.
„This is the first in the line of auto-centers in Serbia, which our company
opens. We have ambitions to become leaders at the Serbian market in
the segment of premium class and to retain this position, “said director
general of Delta Auto Miloš
Petrović greeting the guests
among who was the German ambassador
in Serbia Wolfram Maas.
Delta Motors, exclusive importer
and distributor of BMW and MINI
vehicles for Serbia and Montenegro
had sales growth of 123 percent
in the first business year. In
that occasion the award had been
given to the president of Delta
Holding Miroslav Mišković.
The First show before the domestic public had new BMW series 7, with its
performances represents the most advanced limousine in the world.
New Honda Jazz
“Expect unexpected”
Delta Automoto, general importer and distributor of Honda vehicles, presented
at the end of November in the club Magacin new Honda Jazz.
Comparing with the old model, new Jazz
is bit bigger and more comfortable, but
still has the line of the city car with great
maneuver capabilities. The novelties are „
magic seats”, which are easy to be moved
and rotate, so as VTEC engines of 1,2l
(90KS) and 1,4l (100KS), which are with significantly
reduced fuel spending and emission
of carbon-dioxide.
New offer from DelvelPro
Wholesale
via internet
Delta Automoto / Delta DMD
Wholesale system DelvelPro from February 1, 2009 launched internet
shopping. This will provide our customers to go shopping in the most suitable
way, they can shop any time during day and night, and ordered goods
will be delivered within 24 hours.
DVP wholesale centers function at the locations in Belgrade, Subotica,
Zaječar, Čačak and Nis. Centers’ offer is consist of assortment of 10.000
products of commodities groups.
Podgorica
New distributive centre
New distributive center of DMD Delta in Podgorica is opened at the end
of 2008 at the location Donja Gorica. Within the center there is a storage
space of 3.000m², with 3.600 pallet spots for goods storage. The storage
for the goods with special regime of security is on 300m², while offices
have 800m².
Delta Transportation Service
Fleet with more than
200 vehicles
Delta Transportation Service – DTS, which started on October 1, 2008, successfully
ended the first phase of business which considered integration
of the transport Delta Maxi into DTS system.
DTS fleet at the moment has more than 200 vehicles. By integrated transport
and with optimal organization, DTS will realize over 3.000 deliveries
at the daily basis, almost one million at the annual level respectively
DelvelPro organized action for loyal customers
You buy, you sell, New
York City you will see!
DelvelPro organized action for its customers under slogan “You buy, you
sell, you travel”. The action, which goal was stimulating the sale and elevating
of the loyalty meant that the customer which, within period from
November 1, till; December 31, 2008, spend certain amount of money get
the opportunity to travel as the award. Depending on the level of the trading,
38 customers got trip to Budapest, 25 left for Dubai, and six customers
got opportunity to go visit New York.
13

Delta Sport
The traditional election of the
most successful manager in Serbia,
who marked out year 2008,
jury of the Club of the journalists
from the field of commerce, which has 15 journalists from editorial offices,
granted the gold medal to the director general of Delta Sport Goran
S.Karić, as the most successful manager within service area.
14
Award
for
Goran
Karić
Zara’s shop window
got award for innovation
Shop window of Zara in Delta City got special award of the City management
for innovation in visual quality. At the party, which was organized
in the City Hall of Belgrade, the reward was together with the reward
amounting 80.000 dinar, and was granted to Dejani Perović, Zara area
manager.
Shop window apperance created by Goran Astaloš, regional shop windows
designer for Zara.
Yamamay
in Kragujevac
At the beginning of December
2008 Kragujevac got new
shop of Italian trade mark
Yamamay, which offers lingerie
of a high quality, pajamas
and bathing suits for men and
women.
J Lo line is available for customers,
designed by Jennifer
Lopez. Delta Sport is franchise
partner of the brand
Yamamay for the markets of Serbia and Montenegro, five years contract
duration.
Delta Sport the best
Nike’s distributor again
For the best distributor of the company Nike for the territory EMEA (South
East Europe, Baltic, Africa and Near East) Delta Sport got this appealing title.
Exclusive distributor Nike sports accessories in Serbia and in the region
the received the award thanks to successful realization of the new business
plans and differentiation of retail objects and newly opened shops
like Nikewomen, Nikefootball and Nikekids respectively.
Delta Sport is the sole distributor of Nike accessories in the world, which
had been granted two times this prestige award. Just for the record, the title
of the best Nike distributor Delta Sport got it in 2006 first time.
Discobolos
award for
Delta
Sport
United information association
of Serbia (JISA) granted Delta
Sport international award - prestigious
award Discobolos 2008.
Award Discobolos is granted for
the most qualitative achievements
in the area of implementation of informatics and communication
technologies within the spheres of social and cultural life, Retail software
of Delta Sport-DS Retail, had been announced as the best in the category
of Services.
“Surfing” with
ultimate coffee
In Costa Coffee shops customers have access,
free of charge, to the Wi-Fi wireless internet.
In cooperation with the internet provider Eunet,
the most secure and best of quality connection,
so as fast access to required data. Ticket
for internet access is available at the cashier,
after payment of the order in the coffee shop.

Delta City and
Banca Intesa-Gift card
Delta City and Banca
Intesa in cooperation
with MasterCard
started on December
10, the sale of the Gift
Card, card as a present,
which provides its users
with comfortable
shopping with whole
line of discounts in the
number of shops in
the shopping mall. Gift
card is ideal choice for
all those who like to make their friends, family or employees happy, especially
when they are not sure what gift should they buy for them.
Up until now, over 1000 cards had been issued. The card is available to
adults at the information desk in Delta City, so as in 40 branch offices of
Banca Intesa nationwide Serbia. Minimal amount while purchasing the
card is 2,000 dinar, but the card could be constantly kept at the desirable
amount of money. This card is not personalized, which means that there
is no name on it, but it has the number and could be “transferable” from
one to another user.
Beside holiday sales that
started in December and
will last till February, Delta
City shopping-mall in
Podgorica, in the eve of
the New Year organized
number of manifestations
for all generations.
Special attention was
devoted to the youngest
visitors, where four
shows was given, Children Song Festival took place “ Our Joy “, and
number of shows had Children quire “ Little Stars”. NGO Theatre of youth
OUR OBJECTS DURING NEW YEAR’S EVE NIGHT
Delta City, Podgorica Tempo, Belgrade Tempo, Brcko
Delta City
City as big as Tokyo
went through Delta City
within one year
Belgrade Delta City had in the first year of its business over 12 million visitors,
daily visit was 40.000 people respectively.
Holiday atmosphere in
December was marked
with numerous promotions,
open dancing clasess,
concerts and creative
work shops for the youngest.
Every weekend there
were mini concerts with piano
and saxophone sounds.
Specialty for the art admirers
was the visit of the famous
painter Janos Mesaros, who made his pictures in the central atrium
of the shopping mall.
The youngest visitors enjoyed in the New Year’s show “Saint Clouse New
Year’s workshop”.
Holiday happenings in Delta City in Podgorica
had its opening night in the shopping-mall the cloak performance „Disguised
buyoholics”.
The adults enjoyed in the concert of Ivana Popović, souvenir fair, great
New Year concert of the quartet Maputo, which, for the first time in Montenegro,
presented instrument marimba, paint exhibition and sculpture
exhibition of the artists of younger generation from the Faculty of Fine
Arts from Cetinje, and open classes of salsa and tango, organized by Dancing
Club Montenegrodance.
The shopping-mall was specially decorated during holidays, and the biggest
attraction for the visitors was the Christmas tree nine meters high,
which was placed on the round atrium of the main floor of the object.
15

Pictures to remember
Celebration of successful year Quadrilateral Lion
Opinion exchange
The most inventive in Delta Sport in 2008
Good actor is a good salesman as well Four aces from Belville