Consolidated operating results of Steklarna Hrastnik d.o.o. for 2013

Continued Business Growth of Steklarna Hrastnik - Successful business year 2013 for Steklarna Hrastnik Despite last year's two-month break in the production in the unit of tableware glass - the reason was installation of a new furnace and reconstruction of machines, Steklarna Hrastnik succeeded to improve the business results In 2013.  Steklarna Hrastnik generated 48.6 million euros of total revenue, earnings before interest and taxes (EBIT) was the highest in the last ten years and amounted to 3.87 million euros.

Profit from continuing operations rose by 63 percent, to 2.8 million euro.

"Last year's operating results show that the strategic direction of Steklarna Hrastnik is the right one. We will continue to invest in the modernization of production and training of employees; this ensures that we can produce a very technically demanding products, while maintaining the highest level of quality glass, "said General Manager of Steklarna Hrastnik Andrej Božič." In 2013 we increased the selling price per kilogram of glass by another 3% and optimized the less profitable programs. An increase in value added per employee, which in the past five years has increased by almost two-thirds, has contributed to good business results."


Steklarna Hrastnik will end first quarter of this year by a projected 13.06 million euro from sales, which is 7.14 percent more than in the same period last year. The income from continuing operations is projected to increase by 11 times and is estimated to be 1.44 million euro in the first quarter of this year.

Penetration to new markets and product exclusivity shall continue in 2014

"In terms of sales, we strengthened our position as the leading manufacturer of boutique bottles last year and we will further strengthen this position with new deals. We signed a contract for the production of bottles for the world renowned vodka Elit, and Bacardi has certified us as a supplier for the most demanding products. Our production to packaging program is already full by the end of this year, " Božič adds.

Steklarna Hrastnik successfully penetrated new markets in 2013, among others, to the British, American, Romanian, Macedonian, Indian and Albanian market. In the Albanian market Steklarna Hrastnik achieved a great success as all six breweries in the country are supplied with beer glasses that Steklarna Hrastnik produces. In existing markets, Steklarna Hrastnik achieved the biggest selling breakthrough in the Brazilian and South African market.

In 2013, a collaboration with 46 new large customers started, including the manufacturer of Bacardi drinks, Greek brewery Mythos and company Fănel decor plus which decorates glassware for five world-famous brands.

Successful sales also continues in 2014. Currently, there are ongoing discussion with renowned hotel chains, and it has been confirmed that Steklarna Hrastnik shall produce glasses for Disney company, namely for Disneyland in Paris. A novelty in the sale of products is also developing a retail in Slovenia, which already includes 228 customers.


2014 will be marked by a new investment in the B-furnace for the production of bottles

In order to maintain the competitiveness, continuous investments in technology updates are necessary. This year Steklarna Hrastnik plans 8 million worth investment in the reconstruction of the B-furnace in the production line Special, which produces bottles. This is the next very important investment into production after last year's investment in G-furnace in the busniness unit Vitrum. The installation of a new B-furnace is scheduled for August and September. Installation will last 48 days, it will be implemented by 250 people 24 hours a day. The new B-furnace will increase the capacity and quality of production of bottles, with current production of 120 tonnes in the current quality glass, up to 140 tonnes per day at twice better quality glass.

"The new furnace will bring us greater production efficiency, which for Steklarna Hrastnik means a higher return per unit of product. At the same time this will be more environmentally friendly investment, since the new furnace will be much more technologically advanced than the existing one. According to our calculations, we will have 15 percent lower power consumption, and NOx emissions will be reduced by 30 percent, "said Janez Tomažin, adviser to the General manager for project management and investments.

600450 Consolidated operating results of Steklarna Hrastnik d.o.o. for 2013
Date: 2 April 2014

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