11
062013

Positive business results in 2012 also continue in the first quarter of this year

The Žito, d.d. company shareholders were at the 19th General Meeting of the Žito, d.d. joint stock company, familiarised with the Žito Group and Žito, d.d. company annual report for 2012 and confirmed them. They also confirmed the counter proposal on division of profit generated in 2012 and the amount of dividend. It amounts to € 2.99 gross per share. The management board and supervisory board were discharged for the 2012 financial year.
At the general meeting the Žito management board familiarised shareholders with the Žito Group and Žito, d.d. company consolidated annual report, the auditor’s report of the supervisory board of the Žito, d.d. company for 2012. Last year the Žito Group generated € 111.2 million of sales revenue and € 2.1 million of operating profit (without revenue from the revaluation of land which is a one-off event). The net profit in 2012 totalled € 0.4 million, and the profit of the Žito, d.d. company was € 0.75 million.
The management board at the same time also presented the successful operations of the Žito Group in the first quarter of the current financial year. The Žito Group net profit totalled € 371 thousand while in the same period last year they generated € 2 thousand of profit. In the first quarter EBITDA totalled € 2 million which is 12% more than the planned EBITDA and 19% more than in the same period last year. In comparison with the last quarter of the year the Žito Group sales were higher by 0.7%. In the first quarter the Žito company sales exceeded the plan by 0.4% and exceeded it by 0.5% compared to the same period last year. However, in the first quarter of this year the Žito Group sold € 28 million worth of products while the Žito, d.d. company sold € 26.2 million worth of products. In comparison with the first quarter the Žito Group operating profit was higher by 131%, and the Žito, d.d. company operating profit was higher by 105% compared to the same period last year.
At the meeting that took place yesterday a company shareholder – KD Skladi, d.o.o. presented a counter proposal to the division of the entire company’s distributable profit that on 31 December 2012 totalled € 25,471,393.96, namely that on the second working day following the general meeting a part of the distributable profit in the amount of € 1,054,710.54, representing 4.14% of distributable profit as of 31 December, 2012 is divided between shareholders of the Žito, d.d. company that are registered in the share register. The gross dividend amounts to € 2.99 per share. Dividends are paid to shareholders on 24 October, 2013 in non-revalued amount. The remaining distributable profit totalling € 24,416,683.42 shall be transferred to the 2013 financial year as retained earnings. The gross dividend amount proposed by the management board and supervisory board was otherwise € 1 per share. The counter proposal of the said shareholder was confirmed at the general meeting.
At the session the members of the general meeting also familiarised themselves with the transfer of real estate on the Šmartinska cesta road and financial investments in Mlinotest and Mlinopek from the Žito, d.d. company to the company Šumi nepremičnine, d.o.o.
At the company’s general meeting the Žito management board made an additional explanation and disclosure to the present shareholders of individual company transactions related to the transfer of the concerned real estate and investments to the Šumi nepremičnine, d.o.o. company. In accordance with this the Žito, d.d. company management board shall enable shareholders to inspect the entire documentation concerning the transfer at the registered office, particularly to inspect valuation reports of transfers, report on transfer prices in part pertaining to the concerned transfers, data on all liabilities existing between the affiliated companies Žito, d.d. and Šumi nepremičnine, d.o.o. and data on the planned financial effects of the concerned company transactions in the 2013 financial year. The shareholders shall be notified about the time and location, and conditions of inspection of the abovementioned documentation with publication on the website of the Agency of the Republic of Slovenia for Public Legal Records and Related Services, publication on the SEOnet website and the company’s website.
The management board and supervisory board were discharged at the general meeting for the 2012 financial year.
On 7 July, 2013 the shareholders elected Adrijan Rožič as supervisory board member for an additional period of four years. Otherwise his tenure in the supervisory board ends on the 6 July, 2013.
The UHY Revizija in svetovanje, d.o.o. auditing firm was appointed as the certified auditor for the 2013 financial year at the general meeting.
Additional information:
Public Relations Office, Žito Group
Telephone number: 041 316 016
e-mail: pr@zito.si

Back to news' list