On 29 August 2014 the General Assembly got acquainted with the annual report of SIJ – The Slovenian Steel Group including auditors’ Unqualified Opinions on all the companies within the Group and on the Group as a whole.
General Assembly of Shareholders of SIJ Group and Current Business Results
The General Assembly of SIJ – The Slovenian Steel Group granted discharge to the Board of Directors and the Supervisory Board for the business year that ended on 31 December and made a decision to nominate Mr Denis Mancevič new members of the Supervisory Board for the period until 11 April 2015. The General Assembly of SIJ appointed the audit firm Deloitte revizija for the auditor of the companies and of the Slovenian Steel Group for the business year that ends on 31 December 2014. The General Assembly granted the unanimously consent that the stated distributable profit of SIJ – The Slovenian Steel Group in the amount of 24,5 million EUR remains undistributed.
SIJ Group reached in 2013 the revenues in the amount of 658,7 million EUR, EBIDTA in the amount of 40,8 million EUR and the net profit in the amount of -4,9 million EUR. In accordance with the plan the SIJ Group will in 2014 reach revenues in the amount of 736,5 million EUR (+12% in comparison with 2013), EBITDA in the amount of 85 million EUR (+87% in comparison with 2013) and the net profit of 30 million EUR.
The half-year results are in accordance with the goal set and are confirming the accuracy of the group development strategy as in the period of first six month in 2014 the SIJ Group reached 377 million EUR revenues (+7% in comparison with the first half year in 2013), EBITDA in the amount of 47 million EUR (+85% in comparison with the first half year in 2013) and the net profit in the amount of 18,9 million EUR. Since the global steel market is growing for 3% the SIJ Group is growing more and it has significantly increased the profit as EBITDA profit margin is 12,5%.