Date of release: 25.5.2007.
To maintain the leading position
When speaking of the goals of the Group, Vlahović points out that in the tobacco business unit TDR should maintain its national and regional leading position and make more significant moves into new markets. The leading position in tourism, on the other hand, will be ensured through significant investments, personnel strengthening and partnership with the local community.
Rovinj, 25 May 2007 – General meetings of shareholders of all companies within the Group are completed with tonight's general meeting of Adris grupa. In the course of the day the general meetings of Rovinjturist, Maistra, Istragrafika, Hrvatski duhani, Duhan of Rijeka and Tvornica duhana Zagreb were held.
In his explanation of the last year's business results and of this year's business plan, Ante Vlahović, MSc, President of the Management Board of Adris grupa, said that the last year was marked by huge costs of the Company's restructuring. In the tobacco division of the Group the amount of 28 million kunas was written off due to completion of the process of relocation of TDR and Istragrafika to Kanfanar and restructuring of Hrvatski duhani, whereas in the tourism division the write-off of another 117 million kunas was due to demolition of obsolete facilities which would be replaced with new accommodation capacities. Total restructuring costs within the Group amounted to almost 150 million kunas.
For 2006, Adris grupa generated total revenues in the amount of 2.96 billion kunas. Operating revenues amounted to 2.69 billion kunas, 1.56 billion kunas of which was accounted for by domestic sales. In the same reporting period foreign sales revenues amounted to 971 million kunas. EBITDA amounted to 708 million kunas, which is a 1% increase on the previous year. Profit before taxation for 2006 amounts to 771 million kunas and net profit 602 million kunas.
Vlahović noted that the Group’s capital continued to grow and amounted to almost five billion kunas. In the last five years the capital has increased two times.
When speaking of the goals of the Group, Vlahović points out that in the tobacco business unit TDR should maintain its national and regional leading position and make more significant moves into new markets. The leading position in tourism, on the other hand, will be ensured through significant investments, personnel strengthening and partnership with the local community. He concludes that «we view at the future of our Company with confidence and optimism. It has two well-established core activities, positive directions and most importantly young and educated people». He also said that «we should not rush into projects that would have satisfied merely short-run interests of some of our current owners/investors”.
At the general meeting it was decided that the profit of 460.44 million kunas would be allocated to reserves. The shareholders will receive 5.5 kunas per share from the undistributed profits the Company generated until and including 2000. The dividend shall be paid in two portions. The first portion in the amount of 3 kunas per share shall be paid on 29 June 2007, according to the deposit rate of the Central Depository Agency on 1 June 2007. The second portion in the amount of 2,5 kunas per share shall be paid on 30 November 2007, according to the deposit rate of the Central Depository Agency on 2 November 2007.
Finally, the members of the Management Board and the members of the Supervisory Board were relived of their duty.
Media Contact:
Predrag Grubić
Tel.: 385 (0)52 801 122, 385 (0)52 801 115
Fax.: 385 (0)52 813 587
E-mail: predrag.grubic@adris.hr
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