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 7 4 | The Trade division created net sales revenues in the amount of € 97.8 million, which was at last year’s level. In the total consolidated sales structure of the Sava Group Trade had a 38.3 per cent share. Total pre-tax profit amounting to €3 million was 70 per cent higher than last year, as well as net profit of €2.2 million. Trade earmarked €0.4million for investments. For 2006 it is planned to strategically restructure the Trade division, which includes, on the one hand, selling the entire stake in the companies Sava Trade d.d. and MG Market d.o.o. and, on the other, entering Sava d.d. in the company Merkur d.d. with a significant ownership stake. That is why the business plan for the Sava Group for 2006 has been prepared by taking into account the mentioned changes. Key data for Trade (€ in millions) Index 2004 2005 2005/2004 Net sales revenues 97.5 97.8 100 Pre-tax profit 1.7 3.0 170 Net profit 1.4 2.2 154 Assets 63.1 61.1 97 Equity 24.7 26.9 109 Liabilities 38.4 34.2 89 Investments in fixed assets 0.4 0.4 119
7 5 | In 2005 the company Sava Trade d.d. created net sales revenues in the amount of €54 million, which was 4 per cent less than last year. The generated profit totalling €2.2 million was 33 per cent above last year’s figure and mainly produced by selling real estate. Incorporating the company in the Merkur Group with a similar sales programme will facilitate an improvement in the strategic market position, an increase in the common market share and exploiting synergistic benefits due to both economy of scale and pooling and utilising the best knowledge and business models that companies with a long-standing tradition have available. | b u s i n e s s a n a l y s i s | The company MG Market d.o.o. did not substantially improve its business performance. Net sales revenues totalling €43.8 million were in fact 6 per cent higher than last year. However, this was not sufficient for a positive result. Too great dependence on the franchise partner, long-term rental contracts for OBI centres and keen competition by new centres with similar sales programmes were the reason for a loss totalling €0.03 million, which, however, is much lower than last year. The strategic restructuring plan of the Trade division includes selling a stake in the company MG Market d.o.o. too.
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Annual report 2005 - Sava dd

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