TIGAR A.D. PRELIMINARY BUSINESS RESULTS FOR 2016
At the session of the Supervisory Board of the company Tigar a.d. held on 27.02.2017 were reviewed preliminary results of this Company for 2016, according to the data from the balances for statistical purposes. Total external sale of Tigar’s program from the country since the year’s beginning is at the level of 1.9 billion dinars, of which 70,70% achieved in export and higher by 6% in relation to the previous year.
In 2016 the parent company recorded positive business result (EBIT) in the amount of 44.8 million dinars. In addition to Tigar AD, positive EBIT was achieved by Business Service (19.7 million dinars), Catering (4.1 million dinars), Security (22 million dinars), Inter Risk (75 thousand dinars), Free Zone (65.8 million dinars) and Pi canal (1.5 million dinars). Negative EBIT was achieved by Ti Car Trgovine (-45 million dinars) and Tigar Incon (-14.8 million dinars).
Positive EBITDA was achieved by Tigar AD (183.3 million dinars), Business Service (28.1 million dinars), Catering (8.5 million dinars), Security (23.7 million dinars) and Pi canal (2 million dinars).
Negative EBITDA was achieved by Ti Car Trgovine (-44.8 million dinars) and Tigar Incon (-9.6 million dinars).
According to Branislav Čurić, the company’s CEO, a series of measures for recovery taken by the company and implemented in the last four years evidently show that the Company can operate positively, however, the level of results achieved is not sufficient enough to cover substantial liabilities dating back to the period until 2012.
In the forthcoming period activities related to finding new business arrangements will be undertaken in order to settle obligations from earlier periods, contained in the Prepackaged Plan of Reorganization – says Branislav Čurić.
In addition, at the session of the Supervisory Board there was presented and adopted the revised Corporate Governance Code of Tigar a.d.