Ljubljana, Thursday, 2 September 2021 – At the end of a successful five-year collaboration, SIJ Group and the European Bank for Reconstruction and Development (EBRD) discussed opportunities for future cooperation.
A regular meeting of EBRD and SIJ Group took place at the headquarters of SIJ Group – Slovenian Steel Industry. The SIJ Group management met with the EBRD delegation led by Charlotte Ruhe, Managing Director for Central and South Eastern Europe, who already visited SIJ Group in 2018. As part of her business trip to Slovenia, Ms Ruhe and the SIJ Group Management discussed future investment plans and opportunities for cooperation with SIJ Group, Slovenia's largest metallurgical group.
“We are pleased that the European Bank for Reconstruction and Development recognises and supports the SIJ Group as a strong partner in the Slovenian economy, which successfully implements investments in economic and sustainable operations. The fact that we have successfully met the expectations of such a recognised international financial institution as the EBRD provides a solid foundation for renewed cooperation,” said Igor Malevanov, Vice-President and Chief Financial Officer of SIJ Group.
Nora Kocsis, EBRD Head of Slovenia, emphasised the Bank’s continuing support: “We remain committed to strengthening the competitiveness of Slovenian companies and help them succeed in international markets also under the current conditions. SIJ Group is an example of the remarkable resilience and innovative strength of the local economy, which is among the most advanced in the EBRD regions. Here, our targeted and well-calibrated support can make all the difference.”
The cooperation between SIJ Group and the EBRD started in 2015, when the Bank invested in five-year bonds issued by SIJ, which was the first EBRD investment of this kind in Slovenia. In 2017, the parties continued to expand their cooperation while the EBRD was part of a consortium of seven banks, managed by the UniCredit Group, that signed a long-term agreement for a five-year syndicated loan. Both parties recognise the possibilities of further cooperation in the future.
The EBRD has to date invested EUR 1.2 billion in almost 100 projects in Slovenia. The Bank focuses on support for the private sector and the acceleration of the green transition following the Covid-19 pandemic. The EBRD combines investment with engagement for policy reform to create a business environment conducive to sustainable economic growth.
According to unaudited financial figures, SIJ Group generated sales revenues amounting to 212.3 million EUR in the first quarter of 2021 (a 10.1 percent increase year-on-year), and an EBITDA of 17.9 million EUR (a 29.4 percent increase year-on-year). In the first quarter of 2021, the Group earmarked 15.0 million EUR for investments (double the preceding year). In the first quarter of 2021, SIJ Group was profitable and generated a profit of three million.
For more information:
SIJ – Slovenska industrija jekla, d.d.
Katja Krumpak, Head of Corporate Communications
Phone: +386 1 242 98 59
Mobile: +386 41 814 041