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Press releases
Financial results for 2009
In 2009 fiscal year the company realized sales revenue of €80,2 million. On the group level consolidated sales revenue was €92,1 million. Global financial crisis weakened the automotive sector, leaving the greatest impact on the segments of freight transport and high-end automobiles, where the Company offers a large part of its product portfolio. Compared with last year the company recorded a 35% decline in sales.
Operative measures to increase business profitability, that were adopted mainly in 2008 and pursued throughout 2009, enabled the company to lower the break-even point and successfully adapt itself to the market conditions. As a result the company achieved positive net profit of € 0,9 million.
In first quarter 2010 company continued with successful business development which resulted in increased sales compared to budget (15% increase) as well as previous year’s level.
In February 2010 government SID Bank (Slovene Export bank) approved a new 10 year loan to support the company's key development projects amounting to €23,4 million. The loan is partially financed by European Investment Bank and will support the development of 5 projects which will in cooperation with company’s partners contribute to lower emissions and gasoline consumption. The company also won in 2009 a € 1 million government R&D grant which will be used for the development of advanced die-casting and tooling technologies.