Annual report 2005 - Sava dd

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In 2005 too Investment Finance continued to successfully manage financial investments and thus substantially
contribute to the income of both Sava d.d. and the Sava Group.
Investing in profitable financial investments ensures the potential for further development of other operations
in the Sava Group and brings our shareholders suitable yields and long-term security for the invested assets.
Sava d.d. earmarked over € 37.6 million for investments in long- and short-term financial investments. The
majority of financial investments was implemented in the domestic market, while in line with the stated
development strategy for tourism we increased the ownership stake in the Croatian tourist holding.
In the domestic capital market we increased our stakes in the companies NFD1, Delniæki Investicijski Sklad,
d.d., NFD Holding d.d., Laæko d.d. Brewery, Mercator d.d. and KD Group d.d. In the foreign capital market
we increased our stake in the tourist holding Dom Holding d.d. and acquired a stake in Slavonski Investicijski
Sklad d.d.
A major part of funds for investment in long- and short-term domestic investments was acquired through
divesting certain existing financial investments. The rest of the funds was acquired from other financing sources.
SAVA d.d.
Survey of financial investments
by maturity at the end of 2005
Short-term financial investments
Long-term financial investments
(36%)
(64%)