April 30 (SeeNews) - Slovenian chemicals producer Cinkarna Celje [LJE:CICG] said its net profit grew 6% on the year to 30.6 million euro ($34.2 million) in 2018.
Net sales fell 13% to 164 million euro and were 18% lower than planned, Cinkarna Celje said in its audited financial report published last week.
Sales in Slovenia fell 12% to 21.6 milion euro, while sales on the markets of the EU decreased 9% to 118.3 million euro. Sales to the markets of the countries of the former Yugoslavia fell 23% to 5.3 million euro, while sales to the rest of the world dropped 33% to 18.7 million euro.
Cinkarna Celje is one of 15 enterprises slated for privatisation by the Slovenian government in 2013.
In June 2018, Luxembourg-based Anatol S .a. r. l. said it would not launch a takeover bid for the acquisition of Cinkarna Celje, despite having earlier announced its intention to do so.
According to Slovenian media reports, Anatol has changed its plans because it did not receive permission to carry out due diligence in time.
According to Cinkarna Celje's 2017 financial report, its biggest shareholder on December 31 was insurance company Modra zavarovalnica with a 20% stake. Slovenia's ‘bad bank’, the Bank Assets Management Company, DUTB, owned 14.48%, while Slovenia's state holding company SDH had a 11.41% stake. Clearstream banking with a fiduciary account in Luxembourg held 4.13%.
The company was established in 1873. Its core business is production and marketing of titanium dioxide pigment.
($ = 0.89558 euro)