- How do you determine the amount of margins on products that are not included in basic foodstuffs?
Wally's margins are always the same, they are not increasing for now, and if the levies continue to increase they will surely have to. We have no influence on the purchase price, it is determined by the manufacturers, and the final price is determined by: purchase price, plus transportation costs, plus storage costs (with strict quality control and payment of analyses) plus excise duty, plus customs, plus levies, plus VAT...
- How do you comment on the criticism that the margins set by traders in our country are drastically higher compared to EU countries and do you think that the margins in your trade chain are in line with the purchasing power of citizens?
Those criticisms are malicious and populist, and sometimes there is also ignorance involved.
Voli is available to all institutions to analyze the reasons for price increases that have nothing to do with margin growth, let alone extra profit. This is shown by the fact that can be seen through our balance sheets - that the gross margin is 1,19% higher in 2022 compared to the previous year and that Voli's profit grew due to the increase in turnover, not due to the increase in margins. We know that costs rise due to inflation and that the margin must be higher, but with a gross margin higher by 1,19%, there is no extra profit. I remind you that during the Kovid crisis and the suspension of exports, it was the traders who managed to maintain continuity of supply.
Our turnover is also higher this year due to the increase in consumption and the influx of people from Ukraine and Russia. Last year, the increase in turnover enabled us to increase the salaries of our workers and fight inflation. It is clear that a responsible private sector that pays its obligations fills the budget, and even more clearly that employees in the private sector should have stable incomes.
- Net salaries in the company Voli were increased by 38,5% compared to 2021 and the cost of wages in 2022 amounted to 21,2 million euros.
- The total costs of the company in 2021 amounted to 56,1 million euros, and in 2022 were higher by 10,6 million euros and amounted to 66,7 million euros.
- The company Voli, as one of the largest domestic investors, has invested 10 million euros in the last 125.7 years.
It is a well-known fact that prices in the EU rose up to 26,2%, (as is the case in Hungary), and in Montenegro that growth was slightly more than 18%. Based on the analysis of the 500 best-selling items, the prices in March of this year compared to the previous year are 15,7% higher. As is known, the margin applied to basic foodstuffs is limited to 7%.
The reason for the increase in prices in Montenegro are tax levies and the increase of profit tax from 9% to 15%, the introduction of excise taxes and inflation. Any increase and introduction of taxes and excises must lead to an increase in prices, and the fact is that procurement is mainly dependent on imports.
Our margins are 7-8% lower than in the EU.
We present the amounts in the total price of the product
The first example is cheese that we import from the EU, and that category is in the top 20 most requested products, and the second is a non-alcoholic carbonated drink.
Our margin is 15%, and the share taken by the State is up to 46%.
Another example is a soft drink
The following table shows the obligations that Voli fulfills from its part - it pays various taxes, pays salaries for employees, utilities, operating costs, invests in development and, as announced, will pay a "solidarity contribution". We carry out quality and origin control and we spend serious resources on the analysis of the correctness of the goods, approx. 200 thousand euros per year.
We remind you that Voli is a socially responsible company. Last year, we invested 4,7 million euros in sports and other types of aid, and the amount of donations and sponsorships is twice the social contribution that we are expected to pay. Our goal is to continue to be socially responsible and to finance projects of social importance, and unfortunately we will not be able to do that with the new levies. Our responsibility is great, both towards our employees and towards all business entities and individuals, and especially towards Montenegrin producers, everyone who is part of our business and we work for the welfare and development of our economy.
When it comes to purchasing power, it's not something we can influence.
All those who advertise in the media with allegations that we are making extreme profits with unlimited and drastic margins, should avoid populist stories and the collapse of the Montenegrin economy and work together with it to get out of the crisis.
