The Group states that they will reduce their debt in the future period and finance their operations, which they will achieve by increasing cash flows from operating activities and employing a more effective working capital management.

Intereuropa Group issued their summary of the Strategic plan for 2018 – 2022.

According to the document, Intereuropa Group succeeded in ensuring financial stability and focusing on the development of their core activity during the previous strategic period, despite a high level of debt and the limitations set out in the financial restructuring agreement. The Group also states that they will reduce their debt in the future period and finance their operations through the optimal combination of equity and debt sources, which they will achieve by increasing cash flows from operating activities and employing a more effective working capital management. The sale of non-core assets will be another important source for reducing debt. Note that their Net debt/ T12 EBITDA is currently at 4.8.

They further state that in the context of favorable economic conditions, the Group increased their focus on customers, and ensured the Group’s further growth in the majority of products and markets. When it comes logistics products, the development of the Intereuropa Group’s core activity of logistics services until 2022 will be based on the land transport, intercontinental transport and logistics solutions business lines, with the accompanying products.

Furthermore, the Group sees growth potential on the majority of existing markets where it is present through their subsidiaries. The Group focuses on the markets of the former Yugoslavia. Further expansion to major markets in South-Eastern Europe is also possible.

Turning our attention to the Group’s strategic objectives, Intereuropa plans to invest a total of EUR 36.8m for the period 2018 – 2022. which will be used for increasing warehousing capacities and technological advancements.

The gross amount of the dividend of EUR 14.5 per share will be fully delivered to shareholders, while it is expected that the shareholders will also receive the dividend from last year’s profit.

According to the media, the shareholders of the Belgrade Airport will receive dividends from the paid concession fee after the adoption of the audited financial statements. The company will pay extraordinarily high dividend as they received EUR 501m in December last year of the initial concession fee.

The gross amount of the dividend of EUR 14.5 per share will be fully delivered to shareholders, while it is expected that the shareholders will also receive the dividend from last year’s profit.

As a reminder, Vinci took over Belgrade Airport in December 2018. They were granted a 25-year concession during which the company will both manage and develop the Belgrade airport.  The total value of the concession amounts to EUR 1.2bn and consists out of a one-time payment of EUR 501m, yearly payments between EUR 4.3m and EUR 16m and an investment worth EUR 732m into the airport’s facilities.

The parties agreed on a Memorandum of Understanding that sets out the intentions of both parties to discuss further expansion of their partnership, pending final approval from the Competition Council.  

OMV Petrom published a document stating that they are looking to extend their partnership with Auchan Retail Romania, a Romanian retail company, for MyAuchan convenience stores in the Petrom filling stations. The parties agreed on a Memorandum of Understanding that sets out the intentions of both parties to discuss further expansion of their partnership, pending final approval from the Competition Council.  

The partnership between Petrom and Auchan Retail Romania was initiated in 2017, with a pilot phase which included opening MyAuchan convenience stores in 15 Petrom filling stations.

Note that the further details on the extension of the partnership will be published in the coming days, after finalization of discussions.