Slovenia's Cinkarna Celje plans to invest 18 mln euro in 2024

Of the total investment, 51% will be allocated to capital expenditure, 33% will be used for acquiring replacement equipment, and 16% will go towards the purchase of fixed assets, Cinkarna Celje said in its audited annual report for 2023 on Thursday.

The investments represent 10% of the planned sales in 2024, Cinkarna Celje said.

Cinkarna Celje ecorded a net profit of 5.5 million euro in 2023, down from 43.4 million euro in the previous year. The company's turnover fell to 176.7 million euro from 253.0 million euro, and earnings before interest, tax, depreciation and amortisation (EBITDA) declined to 17.0 million euro from 65.3 million euro.

Cinkarna Celje was established in 1873. Its core business is production and marketing of titanium dioxide pigment.

($ = 0.9393 euro)