(ANSA) - LUBIANA - Slovenia's Mercator, large-scale retail firm
owned by the Croatian company Agrokor, recorded net losses of
184.4 million in 2017, the company announced at a press
conference in Ljubljana.
Losses are largely due to the one-off registration of real
estate values in accordance with international accounting
standards, in the absence of which the group would have recorded
a net profit of 6 million, seeing an increase compared to 2016,
when it recorded a loss of 31 million. The evaluation of the
properties, now included in the income statement, was carried
out by an external consultancy company and the results verified
by two external companies, recording a loss in real estate
assets of 1.4%. During the press conference, Mercator CEO
Tomislav Sizmic underlined that the group recorded - for the
first time since 2011 - a 2.5% increase in operating income from
retail sales, and an EBITDA margin of 90.6 million euros, 45.4%
higher than in 2016. Sizmic is convinced that today Mercator is
a better company than when it was taken over a year ago and that
it has been able to meet all commitments toward employees,
suppliers and all its stakeholders. According to corporation's
restructuring plans, Mercator is expected to raise about 300
million euros by selling unnecessary assets and reducing
leverage in the financial system. (ANSA).
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