CORPORATE NEWS:
Croatia’s Elka Kabeli achieves 31% higher exports
Half of Elka Kabeli’s sales revenue came from exports in its last full financial year (2004). This was 31% higher than in 2003. Of those export sales, 60% were made within the
EU countries (mainly Great Britain) and 40% to non-EU European countries (including significant sales levels in Russia and Switzerland). Against a backdrop of high raw material prices, Elka Kabeli said it struggled against “disproportionate, uncoordinated and uncontrolled cable imports from all around the world, at prices which were often below the actual raw material price”.
According to the company’s President,
Mr Marijan Pejcic, other factors adding to
the impact of high price increases in copper and aluminium were “increased competition in the domestic market” and “the transformation in Croatian public companies” which combined to cause a decline in demand for the company’s cables in the middle of the year.
Overall, Elka Kabeli’s sales revenue for 2004 came to €53.7m ($65m), a 5% drop from the previous year. At the same time, the company took the opportunity to
restructure its balance sheet for the purpose of reducing stock expenses.
Mr Pejcic remains confident for a number of reasons. Productivity rose 9% and he looks forward to further improvements on the
back of a €2.8m ($3.4m) investment in modernising business operations (including €1.06m ($1.3m) on an integrated business information system).
Company: |
Elka Kabeli d.o.o. |
Country: |
Croatia |
Fax: |
+385 1 24 04 898 |
Email: |
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Website: |
www.elka.hr |