Annual report 2005 - Sava dd

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a n n u a l r e p o r t | 2 0 0 5 1 4 | Sava Trade d.d. is present in wholesale and retail sales under the AstraChemo brand. Its subsidiary, MG Market d.o.o., provides trading services in large shopping centres operating under the OBI franchise. Both trading networks, AstraChemo and OBI, are successfully expanding throughout Slovenia. The companies that operate in the Trade division will be sold in 2006. Tourism is becoming one of Sava’s strongest operations. It comprises companies that operate under the Sava Hotels&Resorts Bled and Pannonian Spas brands. The companies of Sava Hotels&Resorts Bled (Golf in Kamp Bled d.d., Grand Hotel Toplice Bled d.o.o. and G&P Hotels Bled, d.o.o.) have available more than 60 per cent of the accommodation facilities in Bled. The Pannonian Spas brand includes five spa resorts in the north-east of Slovenia: Terme 3000 d.d., Terme Radenci d.o.o., with Terme Banovci, Terme Ptuj d.o.o. and Terme Lendava d.d. Real Estate includes the companies Sava IP d.o.o., IP Nova d. o. o., IP NovaA d.o.o., Sava IPN d.o.o., PCAG d.o.o., Sava IMG d.o.o., and Sava Nova d.o.o. We construct for the market and lease out our own properties. A significant part of our operations involves contracting and providing services to cover the requirements of the Sava Group. Other operations includes the companies Teol d.d., Sava Medical and Services d.o.o., and Energetika Sava d.o.o. Teol d.d. manufactures consumer goods, particularly cleaning agents. A new development trend is opening up with the production of green fuel – biodiesel; for this purpose the company Biool d.o.o. was established. Sava Medical and Services d.o.o. efficiently provides services that are carried out by disabled persons and meets the requirements of the Sava Group. The mission of the newly established company Energetika Sava d.o.o. is to assure efficient energy management. Investment Finance is an operation carried out by the holding company Sava d.d. Besides managing the portfolio of Group subsidiaries, the company invests in profitable financial investments.
3. Significant Financial Data and Indicators 1 5 | | i n t r o d u c t i o n | THE SAVA GROUP (€ in millions) Index According to International Financial Reporting Standards 2004 2005 2005/2004 Sales 236.1 244.0 103 Exports 67.2 75.8 113 Added value 73.4 80.5 110 Total pre-tax profit 52.2 43.7 84* Net profit 48.6 38.5 79* Net cash flow (profit + amortisation) 60.3 53.5 89* Balance sheet total 593.5 651.2 110 Non-current assets 494,0 543.8 110 Current assets 99.5 107.4 108 Equity 378.0 393.0 104 Non-current liabilities 72.2 84.2 116 Current liabilities 143.3 174.0 121 Investment in property, plant and equipment 37.1 37.6 101 Employees – on 31 December INDICATORS 3,017 3,047 101 Added value / employee - € in thousands 25.5 26.3 103 Total income / operating revenues (%) 21.7 17.1 79* Total income / equity (%) 17.1 11.9 70* Net profit / equity (%) 16.0 10.5 66* Net earnings per share (€) 24.9 19.1 77* Independence rate (equity / balance sheet total) (%) 64 60 94 Liquidity (current assets / non-current liabilities) (%) SHARE 62 62 100 Nominal value - (€) 41.7 41.7 100 Book value - (€) 191.0 193.8 101 Market value on 31 December - (€) 183.5 180.4 98 Dividend per a share - (€) 2.6 2.7 103** * Notes referring to the asterixed items: The presented 2005 income of the Sava Group calculated in accordance with IFRSs is lower than in 2004, the reason being a single revenue due to the purchase of the Pannonian Spas companies below their book value. The revenue due to negative goodwill contributed 30% to the created return on capital of the Sava Group. Not considering this single event, the Sava Group created a net profit that was 8.8 % higher than last year. - Total income of the Sava Group achieved in 2005 is 14.5% above the plan. - Net profit of the Sava Group in 2005 is 4.3% above the plan. - Return on capital of the Sava Group in 2005 amounts to 10.5% and is 0.5 percentage points above the plan, thereby surpassing the target return on capital as set for the year 2007. ** Proposal by the Shareholders’ Meeting.
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Annual report 2005 - Sava dd

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