LJUBLJANA (Slovenia), March 15 (SeeNews) – Slovenian chemicals producer Cinkarna Celje [LJE:CICG] said on Wednesday its net profit jumped 43% on the year to 9.8 million euro ($10.4 million) in 2016.
Last year's net sales revenue remained flat compared to 2015 at 169.8 million euro, as sales abroad edged up 1% to 148.3 million euro, the company said in its 2016 financial statement.
Operating profit grew 31% on the year to 10.6 million euro.
In 2016, Cinkarna Celje invested 8.9 million euro in fixed assets, 33% up on the previous year.
In August 2015, Slovenian state holding company SDH cancelled a procedure for the sale of a 70.8% stake in Cinkarna Celje as the submitted bids fell short of expectations.
During the proceedings, important environmental issues emerged which had a strong impact on the competitiveness of the procedure and the number of tenders received, SDH said at the time. It pledged to look for solutions that would eliminate the identified issues and allow the sale of shares under better conditions.
Cinkarna Celje is one of the 15 enterprises slated for privatisation by the Slovenian government in 2013.
The company was established in 1873. Its core business is the production and marketing of titanium dioxide pigment.
($=0.941248 euro)