Zhoda Investments ("Zhoda") publishes its annual report for 2017. During the financial year, Zhoda completed its first investment in an organic winery on the Dalmatian coast that produced 100 000 bottles of red premium wines on local grapes. The oil operations in Ukraine posted healthy profits and the license to produce oil was prolonged for 20 years. The operating profit amounted to SEK 14 million compared to SEK -3 million in the previous year.
"Zhoda has had a fantastic year with solid operational development and a strong financial result. We have not only closed our first investment, but also implemented key changes to develop the company from a local family business to a professional market driven producer of premium wines. The extension of the oil license in Ukraine was an important milestone and the establishment of new sales channels has decreased operational risk and significantly improved cash flow. We are off to a good start in 2018 and 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.
The annual report in Swedish, attached to this press release, will be made available on the corporate website www.zhodainvestments.com. The company will publish a separate notice to the annual general meeting to be held in Stockholm on 13 June 2018.
About Zhoda Investments
Zhoda Investments invests in selected unlisted European ventures and drives growth and profitability through active ownership and an entrepreneurial approach. Zhoda owns a Dalmatian organic winery with a 47 hectare state of the art vineyard producing red wine from the local Babic grape. Zhoda also owns a winery on the Dalmatian island of Korcula that produces white premium wines from the indigenous Posip grape. The group also holds a 45 per cent 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. The company's shares are traded on Pareto Securities OTC. 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.