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Dec 14, 2017 18:20 EEST
December 14 (SeeNews) - Slovenian retailer Mercator [LJE:MELR] said it will boost its consolidated EBITDA to 97 million euro ($114.8 million) in 2018, and further on to 123 million euro in 2021.
Mercator's consolidated EBITDA in 2016 totalled 62 million euro.
The retailer plans to increase its consolidated revenue to 2.4 billion euro in 2018, as 56.2% of it is to be earned on the local market, Mercator said in a Ljubljana bourse filing late on Wednesday.
Serbia will generate the second biggest share of revenue in 2018, or 32.3%, followed by Montenegro with 5.5%. Revenue growth is also planned on the market of Bosnia and Herzegovina, after Mercator resumed its retail operations in the country in 83 stores in September.
The lowest share of revenue - 0.9% of the total - will be generated in Croatia where Mercator retains its real estate management operations.
In 2018, Mercator Group's investments will amount to 37.7 million euro, of which 47% will go to expansion of retail area, 20% will be used for refurbishments and investment maintenance of existing units, nearly 17% will be dedicated to IT investments and 5% to logistics, and 11% will be invested in non-trade operations.
Investments in Slovenia will account for 64.5% of total investment funds.
In 2018, Mercator Group will also actively continue its real estate divestment project, with the proceeds to be used primarily for deleveraging.
Mercator is a unit of Croatia's ailing Agrokor concern.
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