Zhoda Investments publishes its annual report

Zhoda Investments ("Zhoda") publishes its annual report for 2021. The company records a strong growth and improved profitability for the year.

"Despite challenging marketing conditions in 2021, Zhoda Investments has recorded a strong growth and a positive operating result of SEK 4.5 million. The sales of bottles in the wine operations doubled for the fourth consecutive year and the oil operations has contributed a positive result to the group. I am looking forward to further presenting our strategy and operations when we shareholders meet at the upcoming annual general meeting", says Robert Karlsson, CEO of Zhoda Investments.

Wine operations

Testament Winery is Croatia's first winery. The goal is to create Croatia's best wine and to become the country's leading exporter of premium wines. During 2021, sales amounted to 200,000 bottles, which is an increase of 140% compared to 82,000 bottles the year before. The sales has doubled for four consecutive years.

Testament Winery is well positioned on the market to benefit from current wine trends. Although tradition is strong in the wine industry, it is also rapidly changing. Modern wine consumers are seeking out under-the-radar and "new" wine regions, where Croatia often fits in despite its over 2,000-year-old wine tradition. Wine consumers wish to try new and local grapes. Testament Winery can boast as many as seven local Dalmatian grapes. In addition, Testament's wines are sustainably produced in its organic vineyard.

During the year, Testament has strengthened its brands and further penetrated new markets. Several of the wines have won gold medals in Decanter World Wine Awards, the world's largest and most influential wine competition. The wines are served in six Michelin star restaurants. During 2021 the company launched a new product segment with exclusive wines sold at higher prices and margins.

Testament Winery's 50-hectare vineyard is organic. The harvest in 2021 amounted to 250 tons, which is significantly higher than the 100 tons in 2020.

The company's vision is to reach sales of 1 million bottles per year. To reach that target, Zhoda is taking steps to construct a completely new winery at Testament Winery. During 2021, the company received an approval for an investment subsidy of SEK 15 million from EU funds directed towards Croatia's wine sector.

Oil operations

Zhoda Investments has a minority interest in a Ukrainian oil company. Through a wholly owned subsidiary, the company holds 45 per cent of the operator of the Lelyaki oil field. During 2021, production amounted to 47,000 (72,300) barrels net to Zhoda Investments. It is the company's objective to increase production, but in the light of the uncertain market conditions in 2021 and the Russian invasion of Ukraine in 2022 the field operator has concentrated its efforts on simpler workovers to maintain production rather than more complex and expensive ones to increase production.

The oil operations contributed an operating profit of SEK 7,810 (-5,643) thousand. During the year, Zhoda Investments received SEK 1 (1) million in dividends from the oil operations. 

Financial key ratios for the group

 

 

2021

2020

2019

2018

2017

2016

Sales, SEK th

15 534

8 100

4 925

2 819

3 223

0

Operating result, SEK th

4 486

-8 855

145

12 296

14 099

-3 883

Operating result per share, SEK

0,01

-0,02

0,00

0,05

0,11

-0,21

Equity, SEK

90 337

81 478

98 344

93 063

59 958

51 373

Equity per share, SEK

0,23

0,21

0,25

0,24

0,44

0,39

Equity/asset ratio

85%

88%

92%

92%

84%

98%

 

 Annual general meeting

The annual report in Swedish, attached to this press release, is available on the corporate website www.zhodainvestments.com. The company has published a separate notice to the annual general meeting to be held in Stockholm on 22 June 2022. The notice can be found at the company's website.

For more information, please contact:

Robert Karlsson, CEO Zhoda Investments AB

+46 709 565 141, [email protected]

www.zhodainvestments.com

About Zhoda Investments

Zhoda Investments invests in selected unlisted European ventures and drives growth and profitability through active ownership and an entrepreneurial approach. In the coastal region of Dalmatia in Croatia, Zhoda owns and manages Testament Winery and Black Island Winery. Based on indigenous organic grapes and a two-thousand-year-old wine tradition, it is Zhoda's award-winning winemakers' objective to create Croatia's best wine and to become the country's leading exporter of premium wines. The vision is to reach a production of one million bottles per year. The group also holds a 45 per cent interest in the Lelyaki oil field in Ukraine with 2P proven and probable oil reserves of 8 million barrels net to the company. Zhoda Investments is actively pursuing new investments. For more information, visit www.zhodainvestments.com.

 

This is an English translation of the Swedish original. In case of discrepancies, the Swedish original shall prevail.

Bra skörd på Testament Winery

Zhoda Investments helägda dotterbolag Testament Winery är Kroatiens första svenska vingård. Målet är att skapa Kroatiens bästa vin. Årets skörd uppgick till 255 ton druvor, vilket är den näst största i bolagets historia. Kvalitén på druvorna är mycket god och årgången 2022 kommer att ge utsökta viner.


Strong harvest at Testament Winery

Zhoda Investments' wholly owned subsidiary Testament Winery is Croatia's first Swedish winery. The goal is to create Croatia's best wine. This year's harvest amounted to 255 tons, which is the second largest in company history. The quality of the grapes is very high and the vintage 2022 will produce excellent wines.


Zhoda Investments ökar takten inom vinverksamheten

Zhoda Investments helägda dotterbolag Black Island Winery expanderar kraftigt med en produktionsökning på 75% efter skörden 2022.


Zhoda Investments scales up its wine operations

Zhoda Investments' wholly owned subsidiary Black Island Winery is expanding rapidly with a production increase of 75% following the 2022 harvest.


Kommuniké från årsstämma i Zhoda Investments

Vid årsstämma i Zhoda Investments AB fattade aktieägarna i huvudsak följande beslut.


Communiqué from the Annual General Meeting in Zhoda Investments

The shareholders of Zhoda Investments AB passed the following main resolutions at the Annual General Meeting.


Zhoda Investments publicerar årsredovisning

Zhoda Investments ("Zhoda") publicerar idag årsredovisningen för 2021. Bolaget redovisar en stark tillväxt och ökad lönsamhet för räkenskapsåret. 


Zhoda Investments publishes its annual report

Zhoda Investments ("Zhoda") publishes its annual report for 2021. The company records a strong growth and improved profitability for the year.


Kallelse till årsstämma i Zhoda Investments AB (publ)

Aktieägarna i Zhoda Investments AB (publ), organisationsnummer 559030-3490 (nedan "Bolaget") kallas till årsstämma den 22 juni 2022 kl. 15.00 på Grevgatan 5 (Vinkällaren Grappe) i Stockholm.


Notice to Annual General Meeting of shareholders in Zhoda Investments AB (publ)

The shareholders of Zhoda Investments AB (publ), corporate identity number 559030-3490 (hereinafter the "Company"), are hereby given notice to attend the Annual General Meeting to be held at 15.00 CET on 22 June 2022, at Grevgatan 5 (Vinkällaren Grappe) in Stockholm.


Zhoda Investments nyemission övertecknad

Zhoda Investments ("Zhoda") har framgångsrikt slutfört en nyemission med företrädesrätt för befintliga aktieägare. Nyemissionen som övertecknades med 11% tillför bolaget 13,1 miljoner kronor före emissionskostnader.


Zhoda Investments rights issue oversubscribed

Zhoda Investments ("Zhoda") has successfully completed an issue of shares with preferential rights for shareholders. The issue was oversubscribed by 11 per cent and raised SEK 13.1 million before issue costs.


Zhoda Investments inleder teckningsperioden och publicerar memorandum

Den 19 april 2022 offentliggjorde Zhoda Investments ("Zhoda") att styrelsen beslutat att på basis av ett bemyndigande från årsstämman genomföra en nyemission med företräde för befintliga aktieägare. Idag inleds teckningsperioden och i samband med detta publicerar bolaget ett informationsmemorandum som beskriver bolaget och emissionen. Emissionshandlingar med information om hur man tecknar sig skickas ut till aktieägarna och information finns även tillgänglig på bolagets hemsida.


Zhoda Investments commences the subscription period and publishes an investment memorandum

On 19 April 2022, Zhoda Investments ("Zhoda") announced that the Board of Directors, based on a mandate from the AGM, had resolved to carry out an issue of shares with preferential rights for existing shareholders. The subscription period begins today, and the company therefore publishes an investment memorandum in Swedish with information on the company and the issue of shares. Issue documents with instructions on how to subscribe are being distributed to the shareholders and are also available on the company's website.


Zhoda Investments genomför företrädesemission på 13 miljoner kronor

Zhoda Investments ("Zhoda") genomför en företrädesemission på 13 miljoner kronor. Syftet är att ta den framgångsrika vinverksamheten i Kroatien till nästa nivå, att bevara och på sikt utveckla värdena i oljeverksamheten i Ukraina och att stärka den finansiella ställningen. Styrelse och ledning har lämnat avsiktsförklaringar att teckna sig för sina andelar på 6,3 mkr, vilket motsvarar 49% av den totala emissionen.


Zhoda Investments announces a preferential rights issue of SEK 13 million

Zhoda Investments ("Zhoda") has resolved to conduct a preferential rights issue of SEK 13 million. The issue will enable the company to take the successful wine operations in Croatia to the next level, to maintain and with time develop the oil operations in Ukraine and to strengthen the financial position of the company. The Board of Directors and Management have declared their intent to subscribe for their preferential rights, which amounts to SEK 6.3 million or 49 per cent of the maximum issue.


Uppdatering från oljeverksamheten

Zhoda Investments ("Zhoda") lämnar en operativ uppdatering om oljeverksamheten.


Operational update on the oil operations

Zhoda Investments ("Zhoda") announces an operational update on the oil operations


Bra skörd i Zhoda Investments vinverksamhet

Zhodas Investments helägda dotterbolag Testament Winery är Kroatiens första svenska vingård. Målet är att skapa Kroatiens bästa vin. Årets skörd uppgick till 250 ton druvor, vilket är en stor ökning från 100 ton föregående år.


Strong harvest in Zhoda Investments wine operations

Zhoda Investments' wholly owned subsidiary Testament Winery is Croatia's first Swedish winery. The goal is to create Croatia's best wine. This year's harvest amounted to 250 tons of grapes, which is a significant increase from 100 tons last year.


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