The Assembly of Plantaž shareholders appointed a new seven-member Board of Directors consisting of Nikola Tripković, Ivana Cvijović, Milan Drakić (in front of the Investment and Development Fund); Darko Rašović, Boris Boričić (PIO Fund), Stevan Raičević (representative of the Employment Agency) and Nikola Perišić (Montenegro Commercial Bank).
As it was announced from that company, the Assembly made a decision on the selection and appointment of auditors for this year, according to which a consortium consisting of Cattaro Audit from Kotor and SFA Montenegro from Podgorica was chosen as the auditor.
The Assembly of Plantaž shareholders adopted the financial and business report for the past year.
At the regular Assembly, which was held in the Šipčanik wine cellar, the shareholders also adopted the auditor's report on the audit of the financial statements for the previous year.
"The shareholders were presented with a new state document, the Company's Development Strategy until 2030, which aims at a comprehensive transformation of the company, which will ensure its long-term and sustainable growth," the company's announcement states.
The strategy was developed in cooperation with consulting firms Pricewaterhouse Coopers (PWC) and BlueRock from Zagreb.
The company, as announced, achieved total revenues of over 32,6 million euros last year, which is 4,5 million more than the revenues achieved in 2022, which represents a significant growth of 16 percent.
Revenues from the sale of products and services in the previous year recorded an increase of 18 percent.
"On all markets, overall, revenues from the sale of bottled products are 15 percent higher than in 2022. Most of the revenue from the sale of bottled products last year was generated by the Montenegrin market, while significant growth was also achieved in other foreign markets." the announcement added.
As they specified, the income from catering last year was several times higher than in previous years, becoming a record, which contributed to a 64 percent better result last year compared to the previous one.
The company, from its own sources, allocated 1,6 million euros for the purchase of equipment and agricultural machinery, as well as the raising of new and clearing of old plantations, which is more than twice the level of investments compared to 2022.
"Total expenditures last year were at the level of 35,6 million euros and are six percent higher than in 2022, as foreseen in the business plan, taking into account macro and micro economic factors. In the structure of costs, the largest increase is recorded in the costs of purchasing raw materials and energy, which are more than EUR 2,5 million higher than the previous year. This amount of costs was overlooked and expected, considering the increase in purchase prices of bottles and protective equipment," the statement added.
The cost of gross wages last year was eight percent higher compared to 2022, primarily as a result of the agreement of the company's management with the Trade Union, in order to gradually return to calculations from the time before the introduction of restrictive austerity measures and thus amortize significant inflationary shocks in the previous period. but also the increase in the cost of transportation and food for workers during the last year.
Compared to the costs from 2019, they are over three million EUR less than last year.
"In the previous year, a significant reduction in liabilities to suppliers in the amount of EUR 1 million and to credit institutions in the amount of EUR 2 million was evident, which represents a significant factor that positively affects the financial stability and operational efficiency of the company," the announcement states.
Cumulatively, liabilities as of December 31 last year, excluding deferred tax liabilities, are 2,7 million less compared to total liabilities on the same day in 2022.
"In the previous year, a negative business result was achieved in the amount of five million euros, before taxation. This result was significantly influenced, among other things, by a decrease in the value of stocks of - 2,1 million euros, caused mostly by lower production from previous harvests with higher realization of bottled products on the market, as well as by increasing the cost of materials and energy by over 2,5 million euros compared to the previous year", said Plantaž.
If it is taken into account that for the year 2021 the business result was negative in the amount of 20 million euros, the achieved results, as they stated, indicate a clear commitment and engagement of the management in achieving financial stability and improving business performance.
"Achieved results, as well as numerous initiatives undertaken in the previous period, led to significant positive effects for the company and represent a good basis and foundation for future development. These claims are best supported by the business performance indicator, where, after four years, a positive EBITDA result in the amount of over EUR 800 was recorded," the announcement states.
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