Press release
from XXVI meeting of the Board of Directors 13 Jul-Plantaže a.d. Podgorica
Board of Directors has considered minutely the results in the production for the first eight months of this year. It was stated that the results have been extremely good, particularly in the conditions of corona virus pandemic. In 2020, by the half of September, the production was, as follows:
- 13mil. kg of wine grapes
- 1,5mil. kg of table grapes
- 850.000 kg of peach and nectarines
- 5,0 mil. bottles of wine and natural brandies
Such results have been achieved thanks to the extreme efforts of the employed and management at all levels. Production results in whole primary production allow for provision of the necessary stocks for the production of the final products and keeping the company on the global market in the next year. Without such primary production, all efforts in the field of sales would have been in vain.
Corona virus has destroyed completely the world wine market on different grounds. However, in such conditions, our Sales and Marketing Dept. achieved good results, thanks to timely strategic approach in this business segment. The total decrease of revenues from the sales of the wines and natural brandies has been almost 40%. The biggest fall of 62% has been recorded on the domestic market, due to the fall of turnover in tourism which is one proof more that over 90% of our products in Montenegro have been consumed by tourists-foreigners, while th export markets recorded slight fall , ranging 15%-25%. Extremely good business results have been achieved in the production and sales of the table grapes (index 180), peaches and nectarines (index 260), fish and young fish (index 108).
Despite the drastic fall of the revenues, Plantaže managed , from the current inflows, realised by the sales of its products and services, to settle over € 19,0 mil of its obligations, such as: to the suppliers, €7,3 mil, to pay €4,5 mil for net earnings into the state’s budget, the amount of €6,1 mil for 620 fully employed and over 600 seasonally employed workers and € 1,1 mil.for due annuities to the banking sector. In spite of all difficulties and suspense, the investments, valued at over €2,0 mil, were realised.
- At the stated meeting,the Board of Directors got acquainted minutely with the final ’ Report on the Audit of the Annual financial Report of the joint-stock company 13 Jul-Plantaže for 2018.After the detailed analysis of the Report, it was concluded that all measures would be undertaken from its competence and it should send , in the shortest time possible, the plan of activities for the realisation of the issued recommendations, with the content of measures, competent entities snd time limits, to the State Audit Institution. It was with the stated objective that the ’Decision on determination of the guides, concerning the activities from the Report on the audit of the annual financial report of the company 13 Jul-Plantaže ad Podgorica for 2018 by State Audit Institution’’ was adopted at the meeting. All measures and activities which should be undertaken and executed by the BoD and Management, within six months for removing the stated irregularities and given recommendations, are worked out minutely in that document.
- Regarding a great interest by the public concernig the out-of-court settlement with the company OMP Engineering DOO Podgorica, it was stated that there is the pending process of the realisation of this decision , because the concluded settlement has several legally procedural elements which should be implemented in the following period,of which the Montenegrin public shall be informed timely.
- BoD has made, within its competence, all necessary preparations for holding the upcoming Shareholders’ Assembly. The order has also been given to the Management to perform the adequate operational activities so that the Assembly could be held, respecting all measures, ordered by the National Co-ordination Body.
- The widest public has noted that in a long period of time and especially in the previous two months, there has been a peristent campaign going on against Plantaže as a company. The fact that the criticism (often unjustified) has been addressed to the Board of Directors and/or the Management is of less importance than the immeasurable software loss which has been inflicted, in the widest business context , to this company.The actors of these campaigns have not considered that 20 thousand citizens of Montenegro as well as most of the image of business activities in our country depend , directly or indirectly (in different circles), on its business activities. Separate political interests did not take into account the economic relevance of the company for our country. However, regardless all mentioned above, this Montenegrin, one of rare (or only!) global companies, the wines of which have been consumed in over 40 countries of the world , at almost all of the continents, shall overcome all current difficulties and keep being the most recognisable Montenegrin brand.