Press Release

Ljubljana, Monday, 15 May 2017 – The SIJ Group releases its operating results for the successful first quarter of 2017 and announces changes in SIJ d.d. Management Board.

As stated in the consolidated and unaudited results, the SIJ Group generated EUR 256 million in sales revenues (an increase of 34% compared to the same period last year), an operating profit before depreciation and amortization (EBITDA) of EUR 28.3 million (an increase of 16% compared to the same period last year) , and a net profit of EUR 7.1 million, in the first three months of 2017. Investment expenditure totaled EUR 27.5 million (compared to EUR 21.2 million in the same period last year). They related to the completion of two major strategic investments in the Group's Steel Division. The Group's Management Board has assessed the results as successful and in accordance with the business plans for 2017.

Dr. Denis Mancevič, Member of the Management Board and CEO of SIJ d.d., who joined the Group in 2014, and Igor Malevanov, who has been with the Group as Executive Director of Finance and Member of the Management Board since 2007, both made a considerable contribution to the development and successful operation of the SIJ Group in recent years. We would like to inform the public that these two Members of the Management Board have resigned for personal reasons, and will continue their careers outside the Group. Until the end of their employment relationship, they will remain at the SIJ Group and take care of current business. At the meeting of the SIJ d.d. Supervisory Board on Tuesday, 16 May, the appropriate procedural steps will be taken to appoint new members to the Management Board. This will ensure that SIJ d.d. continues to operate smoothly and without disruptions. Andrey Zubitskiy shall continue to serve as the President of the SIJ Group Management Board.


The SIJ Group is the largest vertically integrated Slovenian metallurgist group, and its products rank among the top market positions in the European and world niche steel markets. The Group has two areas of business – the core business of metallurgy along with meat processing (acquisition of the Perutnina Ptuj Group) – with over 50 affiliated companies in Europe, the USA and Asia and some 7200 employees.
In 2016, the SIJ Group generated EUR 842.7 million in revenues, an EBITDA of EUR 127.1 million and a net profit of EUR 51.3 million.

[1] Excluding the one-off impact of merging its businesses in the first three months of 2016, at a cost of EUR 28.4 million.