HELD THE REPEATED SESSION OF THE REGULAR GENERAL ASSEMBLY OF TIGAR A.D.
Tigar a.d. company has held its repeated session of the regular General Assembly and on the occasion there were adopted the Financial Statements for the year 2016, an independent auditor for the year 2017 was elected, the Supervisory Board was relieved of its duty since its four-year term of office has expired and there was appointed new composition of the Supervisory Board. Ammendments and supplements of the Company's By-Laws have not been reviewed due to lack of quorum for this item.
According to the adopted financial statements in financial 2016 Tigar Group recorded an operating profit (EBIT) in the amount of RSD 92,2 million.
As the Managing Director of Tigar a.d., Mr. Branislav Čurić, says the most significant business indicators, EBIT and EBITDA point to a trend of stabilization in the Company's operations. The result achieved is not negligible, taking into account the challenges Tigar faces in the recent years, but still insufficient to service the exessive debts from earlier periods following the dynamics envisioned and after conversions of a part of the debt was implemented.
Financial statements for the year 2016 were presented to the shareholders. The burdensome factor for the current operations are obligations from earlier period which afftect the liquidity significantly.
Tigar ad has implemented a series of activities from the PPoR in the course of 2016 too, in order to achieve a more stable business operation.
When it comes to the year 2016 and the first quarter of 2017 it should be emphasized that there were carried out conversions of debt into capital pusuant to the Conclusion adopted by the Government of the Republic of Serbia, as of 13.09.2016.
In the next period will ensue activities in the part of breakthrough to new markets as well as finding new solutions in order to relieve the Company of its old obligations – says Branislav Čurić, the Managing Director of Tigar a.d.