Celje, 15 March (STA) - The Tuš Holding generated EUR 790m in revenues
in 2011, which is a 4% drop over 2010, director Matjaž Zadravec told
Thursday's edition of business daily Finance. He is however optimistic
about the future, saying that the business strategy introduced to
consolidate the group has provided great stability.
Zadravec pointed out that the group increased its earnings before
interest, taxes, depreciation and amortisation (EBITDA) from EUR 44m in
2010 to EUR 48m in 2011 in spite the decrease in revenues.
decrease in revenues was a consequence of the offloading of companies with
non-strategic activities, like fuel retailer Tuš
Telecommunications company Tušmobil, which the group had been
trying to sell for a while, reached a positive cash flow (EUR 2.7m) for the
first time in its history in 2011 through optimisation, according to
Zadravec. The company's revenues dropped 9% to EUR 64m.
thus no longer seen as a threat to the group, according to Zadravec.
However, $everything is for sale if the price is
Engrotuš, the company in charge of retail as the
group's main activity, generated EUR 645m in revenues, which was a 1%
increase over 2010. Its EBITDA dropped from EUR 19m to EUR
Touching on foreign markets, Zadravec said that Tuš generated
EUR 55m in revenues in Bosnia-Herzegovina, which he labelled as a strategic
However, Macedonia is more interesting for Tuš, as the
retail market there is only just developing, said Zadravec. Tuš increased
its revenues in Macedonia by 19% last year.