Boston, MA -- (SBWIRE) -- 08/15/2012 -- On account of unfavourable domestic and external conditions, we do not envisage a pick-up in Slovenia's levels of consumer confidence in the course of 2012. Ongoing deleveraging at the household and corporate level and stubbornly high unemployment (expected to rise to 12.9% by the end of 2012) mean operating conditions for many food and drink companies are still very challenging, with higher-end sectors finding things particularly tough. We have also recently downgraded Slovenia's 2012 real GDP growth forecast, expecting the economy to slip into recession.
Headline Industry Data (local currency)
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- 2012 per capita food consumption: +0.46%; forecast compound annual growth rate (CAGR) to 2016: +1.10%
- 2012 alcoholic drinks value sales: +1.82%; forecast CAGR to 2016: +3.24%
- 2012 soft drinks value sales: +1.27%; forecast CAGR to 2016: +1.85%
- 2012 mass grocery retail sales: +4.39%; forecast CAGR to 2016: +5.24%
Key Company Trends
Slovenian Fruit Producers Consolidating: In February 2012, Slovenia-based fruit company Evrosad d.o.o. acquired the country's second biggest fruit company, Sadjarstvo Jeruzalem Ormoz. Evrosad now has 140 new hectares (ha) of cultivated land, taking its total land ownership to 625 hectares. The company's main produce are apples, which it are distributes across Slovenia and also exported as far as Scandinavia, Russia and the Baltics.
Nectars Increases Its Stake in Fructal: A 93.73% stake in the soft drinks division of leading Slovenian brewer Pivovarna Lasko was in mid-2011 sold to Serbian juice producer Nectar. The latter further increased its stake in the Slovenian company in February 2012, now being in possession of 97.79% of its equity. Nectar appears committed to the continuation of Fructal's local operations, including the modernisation of its two plants. Nectar is expected to achieve some EUR140mn in Slovenian sales.
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