State assets holding reports EUR 36.6m in H1 net profit

Ljubljana, 13 September (STA) - Slovenian Sovereign Holding (SSH) generated EUR 36.6m in net profit in the first half of the year, which compares to EUR 42.6m reported by the state asset custodian after the same period last year.

SSH held EUR 736.2m in assets at the end of June and EUR 551.3m in capital. It had 36 capital investments, 89% of which were owned by the holding. It also managed 64 investments owned by the state, says the report published on Thursday.

SSH said most activities related to investments slated for privatisation by parliament in 2013 had revolved around preparations for the sale of Abanka.

A sales cooperation contract was signed with the bank and a financial consultant is being sought for the sale, due by the end of 2019 in line with promises given to the European Commission.

The holding got EUR 31.5m via dividends based on 2017 operations in the first half of the year, half of which through the dividends of insurer Zavarovalnica Triglav.

The dividends from companies owned by the state amounted to EUR 160.3m, mostly coming from Telekom Slovenije and Abanka and going into the state budget.

SSH also continued to perform its denationalisation-related duties, paying out a total of EUR 3.7m in damages.