Sales of state equity stakes netted EUR 9m last year, while the EUR 250m in purchase money for the sale of the NKBM bank, agreed in 2015, was transferred this year, SSH board Anja Strojin Štampar said on Thursday.

Out of the state enterprises endorsed for privatisation by parliament in 2013, nine have been sold so far, but the original list of 15 companies was reduced to 13.

This is because adhesives manufacturer Aero has since gone into receivership and spa operator Terme Olimia has been classified as an important investment in which the state is to keep 25% plus one share.

Privatisation of tissue maker Paloma has been suspended pending a court decision on the challenge by a group of minor shareholders of the approved recapitalisation by the Polish Abris fund.

SSH, in conjunction with other shareholders, has also launched the privatisation of KDD, the central clearance corporation. It is also in talks with bidders for more than half of 13 portfolio investments.

Tooling company Unior needs to be prepared before a sale procedure can start, Strojin Štampar said, so that restructuring, refinancing and activities for sales would run simultaneously. An agreement with other shareholders on the sale has already been signed.

Stockings maker Polzela is not yet listed for privatisation with SSH chairman Marko Jazbec saying the company would first need to undergo restructuring. But it will not be ready for privatisation this year.

SSH is also managing some other sales procedures in cooperation with the Bank Asset management Company, most notably of the car parts maker Cimos and the foundry MLM.

Jazbec reported today that SSH had also drawn up proposals for the improvement of management of state equity stakes, seeking to address restrictions on ownership for several investments classed as important.

The holding closed 2015 with a pre-tax profit of EUR 58.3m and a net profit of EUR 54.7m. It generated a revenue of EUR 88m, 70% of which was financial revenue. The bulk represented dividends.