Slovenia's Melamin turns to net profit in 2023

Net sales revenue went down 14% to 45.4 million euro and 90% of it was generated abroad, the company said in a filing with the Ljubljana bourse on Tuesday.

The company achieved 84% of its total exports through exports to the European Union, with the largest single foreign market being Italy, which attracted 21% of Melamin's total sales for 2023, the company said.

Melamin made investments worth 11.5 million euro in 2023, or 22% of its annual revenue, it added.

In May 2022, a human error during the pumping of raw material caused an explosion at the factory of Melamin in Kocevje. The company expects the reconstruction to take up to 18 months and estimates the damage caused by the accident at above 30 million euro.

( $= 0.9351 euro)