For the second consecutive year Jedinstvo, among other selected companies from Serbia and region, took part in the traditional Belgrade Stock Exchange International Conference which was held on Tuesday, 18 November, in Hotel Hyatt Regency.

Like previous year, Mr. Dusko Djuric, a member of the Executive Board, introduced the Company in one-to-one meetings with numerous investors from Slovenia, Croatia, Denmark and Finland who were interested about business prospect of Jedinstvo.

From the beginning 2014, shares in Jedinstvo has been listed on the Standard Market at the Belgrade Stock Exchange, while this year performance in the Conference is just one more step in improving the corporate governance of the Company.

Jedinstvo achieved non-consolidated operating revenues of RSD 2.7bn in the first nine months of 2014, the company announced in a statement on the Belgrade Stock Exchange. These non-consolidated sales, which do not include results of daughter companies, increased 9.8 per cent compared to the same period of the last year.

Operating profit of the company totaled RSD 82.9m, a 41.5 per cent decrease compared to the first nine months of 2013, while net profit jumped 31.7 per cent to RSD 106.3m (last year`s earnings was affected by net loss from ceased activities amounted to RSD 44.9m).

Jedinstvo had no RSD long-term liabilities at the end of September, while a short-term debt increased from RSD 2bn to RSD 2.7bn due to larger short-term financial liabilities and liabilities from operating activities.

Former building of Aeroinzenjering, after a reconstructing adapted for purposes of court proceedings, was officially opened on Monday, September 8, by Minister of Justice and Public Administration Nikola Selakovic.

This is the first basically arranged judicial center of a general jurisdiction, after almost 40 years, and entire reconstruction has been performed by Sevojno-based Jedinstvo. The building is spread over 9,119 square meters of gross floor area, of which about 7,400 square meters of usable area on 4 levels. After reconstruction, in this area 102 courtrooms were formed, as well as other supporting facilities necessary for assistants and technical services.

A contract between Ministry of Justice and Public Administration and Jedinstvo was signed in December 2012, but its implementation began in the spring of this year. In just 90 day Jedinstvo successfully completed a functional and spatial reconstruction and replacement of systems, installations, elevators etc. A contract value of Aeroinzenjering building reconstruction amounted to RSD 346.6m without VAT.

Jedinstvo Group`s consolidated revenues, which includes operations of the parent company and its daughter firms, in the first six months of 2014 amounted to EUR 2.2bn compared to a record high revenues of RSD 3.7bn from the same period last year. As management announced, this year revenues are expected to decrease because Sochi construction works boosted last year performance with almost 50 per cent share in total revenues.

Consolidated operating profit of Jedinstvo Group amounted to RSD 66.6m, a decrease of 66.6 per cent, while net profit reached RSD 44.6m compared to 1H2013 earnings of nearly RSD 160m.

A Moscow-based daughter company, Jedinstvo Inzenjering, has signed recently a contract for the Skolkovo Innovation Center worth around USD 100m, while in Slovenia remaining works to be performed amounts EUR 15m, so Jedinstvo Group has full employment till the end of the year, the company announced in the semi-annual report on the Belgrade Stock Exchange.

Jedinstvo announced RSD 1.7bn in 1H 2014 non-consolidated revenues, 7.6% down compared to the same period of 2013. Operating profit was halved to RSD 48.4m, while earnings amounted to RSD 22.7 (down 77%).

Non-consolidated financial reports of the Company do not take into account financial results in its dependent companies in Russia, Slovenia, Montenegro. Jedinstvo will announce 1H 2014 consolidated financial reports till the end of August.

In its semi-annual non-consolidated financial reports announced on the Belgrade Stock Exchange, management of the Company stressed also that Jedinstvo has launched share buy-back program in July and inked record business deal in Moscow (Russian Federation) worth around USD 100m.

Annual General Meeting of shareholders held on June 17 adopted all proposed items on the Agenda, among them the decesion on adoption of financial reports and the descision on profit distribution.

The Assembly of Jedinstvo has decided to distribute a dividend per share in the gross amount of RSD 294.1 (net amount of RSD 250). The Company will pay out RSD 88.5m out of total RSD 249m earned as a non-consolidated net profit in 2013.

The record date, by internal acts of the Company, is set on December 31, 2013. The dividend will be paid out in three equal installments, with deadline on the last day of each quarter.

The Assembly of Jedinstvo has decided to start a share buy-back program, up to 10% of total number of shares. The authority to implement these actions were transferred to the Supervisory Board.

From this year on, Jedinstvo has been listed on the Standard Market segment at the Belgrade Stock Exchange (Listing B), which includes the announcements of quarterly financial results.

In the January-March period of the current year, Jedinstvo has announced non-consolidated operating revenues of RSD 563.2 million which is up 1.7% compared to the same period last year. Operating profit amounted to RSD 26.6 million (an increase of 2.3 times), while net profit reached RSD 18.1 million (an increase of 8.2 times).

The consolidated financial results which include the operations of the parent company and its subsidiaries will be announced semi-annually, till the end of August.

By resolution of the Supervisory Board of Jedinstvo, annual General Meeting of shareholders will be held on Monday, 17 June, 2014 at 12:00 at the registered office of the Company. The agenda of the annual General Meeting of shareholders is the following:

• adoption of the 2013 Annual financial report (nonconsolidated and consolidated one),
• distribution of profit,
• appointment of auditor for the 2014 financial year,
• adoption of the Decision to implement a share buy–back program.

The shareholder holding at least 0.1% of the total number of Company shares i.e. 300 shares, i.e. proxy who represents the shareholders holding at least 300 shares of Jedinstvo on the Shareholders` day (June 7) shall have the right to participate personally in the activities of the Shareholders’ Assembly.

Jedinstvo has posted record consolidated revenues of RSD 8.1bn in 2013, which is 34.3% higher compared to the previous year.

The consolidated financial statements of Jedinstvo include by full consolidation parent company and its subsidiaries: Moscow-based Jedinstvo Inženjering, Jedinstvo doo Podgorica, Jedinstvo doo Slovenia, Užice gas, Zlatibor gas, Metaling Eko, AK Raketa i Jedinstvo Metalogradnja.

Revenues from abroad have contributed to total sales with RSD 4.6bn, while domestic market generated revenues of RSD 3.5bn. Position of the largest export market was retained by the Russian Federation, with record sales on it amounted to around EUR 35m.

Consolidated earnings before interest, taxes, depreciation  and amortization (EBITDA) reached RSD 674.1m (up 38.5%), while the operating profit (EBIT) amounted to RSD 486.7m, an increase of 59.2% compared to the previous year. Consolidated net profit amounted to RSD 375.3 million, an increase of 13.3%.

At the end of 2013, works on the Olympic University in Sochi have been successfully completed. Works on the project of building a pharmaceutical company Hemofarm Obninsk in Moscow are still in progress, while project of building complex Science Center in Skolkovo and entertainment center in Anapa were contracted. A start of work on both projects is expected for the mid-year. A contract for water supply and sanitation Adriatic Coast III-Bar, Montenegro was signed during the last year and preparations to start works are underway. Much of the implementation of contracts in Slovenia is on the way to be done in current year.

Jedinstvo ad Sevojno posted nonconsolidated revenues of RSD 4.19bn in 2013, which is 5.9% higher compared to the previous year.

Russia business activities participated with approximately RSD 550m in the consolidated operating revenues in 2013. Revenues from business operations in Slovenia amounted to approximately RSD 315m (EUR 2.7m) out of a EUR 22m contract. The largest part of the implementation of the contract in Slovenia is expected to carry out during the current year. Montenegrin business activities completed during 2013 with revenues of approximately RSD 250m.

Nonconsolidated EBITDA (earnings before interest, tax, depreciation and amortization) amounted to RSD 437.1m (up 34.3%), while operated profit (EBIT) arrived at RSD 279.1m which is 62.7% higher than in 2012. Net profit of the Company reached RSD 249.1m, up 8.5% compared to the previous year. Continue reading →