19
062015

The Shareholders’General Meeting of the Žito Group: Positive business, despite the process of sale continues with the growth of exports and profit in the first quarter of this year

Ljubljana, June 19, 2015 – Shareholders of the Supervisory Board of the company Žito, d.d. adopted the annual report of the Žito Group and the company Žito d.d. for the year 2014 at its 21. General Meeting today. The Management and Supervisory Board were given discharge and an auditing firm was appointed for the current financial year. The General Meeting passed a resolution that the company’s accumulated profit remains undistributed and is transferred to the financial year 2015 as undistributed profit.

At the General Meeting, the Management Board of the company Žito informed shareholders of the consolidated annual report of Žito Group and the company Žito, d.d., of the auditor’s report and the report of the Supervisory Board of the company Žito d.d.

The Žito Group 2014 generated € 113.7 million in net sales revenues, € 3.7 million in operating profit and € 3.0 million in net profit. Net revenues from sales, compared with 2013, increased by 2.6%, operating profit by 18.0% and net profit by 37.3%. Key performance indicators compared with 2013 improved, including the return of income, capital and assets, EBIT and EBITDA and added value per employee.

Management and Supervisory Board were given discharge by the General Meeting for the financial year 2014. The General Meeting appointed the auditing firm UHY Revizija in svetovanje d.o.o.. as the certified auditor for the financial year 2015.

The General Meeting was informed of the distributable profits of the company, which amount to € 25,861,078.62 on the day of 12/31/2015 and adopted the decision that it remains undistributed and is transferred to the financial year 2015 as undistributed profit.

A counter-proposal was given at this point, which was not confirmed by the General Assembly. The applicant of the counter-proposal announced a contested lawsuit.

At today’s annual General Meeting, the Management Board presented the operation of the Žito Group in the first quarter of this financial year. The Žito Group sold € 28.0 million more of products in this period than it the comparable period in the previous year, or 3.0% more. The result from operating activities of the Žito Group is a profit of € 577.000, which is 8.1% more than in the same period last year. The net profit of the Žito Group amounted to € 489.000, which is 50% more than in the same period last year. In the same period of the previous year a profit of € 326.000 was generated.

The entire presentation of the General Assembly can be found on this link in Slovene: General Meeting June 2015 presentation

General Meeting’s decision can be found on this link in Slovene: ŽITO GENERAL MEETING – final decisions

More information:

Nina Rus Turuk, Žito Group

Phone: 01/5876 120

e-mail: pr@zito.si

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