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Business Group Đuro Đaković If we look back at business results since begin of nineties until 2005 we can freely conclude that business trends of the Group Đuro Đaković constantly held negative sign. Group Đuro Đaković was close to the first positive results during 2005, and has set real basis to achieve positive results and profit in 2006. The loss realized in 2005 was primarily caused by reassessment of the property value. Namely, main condition for getting out of the zone of losses was solution of bankruptcy rests of Županjska Bank, writing off the state debt and transformation of the rest half of debts into property share in Đuro Đaković Holding d.d. Besides these government measures positive trends in naval architecture and metal processing industry on the markets in inland and abroad worked for our benefit. Group Đuro Đaković completed the business year 2006 for the first time with positive results. The group Đuro Đaković according to reliable estimates will have positive results in the business year 2006. Total earnings realized within the Group are estimated at 825 million kunas, out of which number domestic market realized 562 million kuna, and while realization on the markets abroad reached 209 million kuna. Earnings realized on foreign markets were approximately 27 % of the total realization. The expected results of the group for 2006 are expected to lead to profit in the amount of 14 million kuna, which will ensure stability of running the business. Number of employees moved around 2.100 workers. With the sale of Tvornica poljoprivrednih strojeva i uređaja in Županja, Đuro Đaković Holding obtained fresh capital to maintain good liquidity within the group. The money was invested into necessary technical and technological modernization of the companies of the group, and the most modern machinery in the value of 15 million kuna was bought. For the company Đuro Đaković Proizvodnja opreme d.o.o. a workshop with 11.000 m2 in the value of 11 million kuna was bought and equipped for production of heavy components. The policy of giving incentives for further investments into modernization of equipment will also continue in the year 2007. The business year 2006 was also marked by preparations for privatization of ĐĐ group companies. In cooperation with the authorized auditors of KPMG we worked on assessment of the value of ĐĐ shares in companies to be privatized during 2007.
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