The group's earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 14.4m, down from EUR 17.5m in 2016, while sales revenue increased by around 2% to EUR 124.3m.

The core company, publisher DZS, saw revenue decrease by 4% to EUR 1.4m, while EBITDA increased from EUR 2.1m to EUR 2.3m. The net loss amounted to EUR 1.6m after it had stood at EUR 7.5m in 2016 according to revised data.

Meanwhile, the Terme Čatež group, which includes several more facilities along with the Terme Čatež spa, experienced a drop in net profit from EUR 4.5m to EUR 3.4m.

The spa operator however highlighted a record 709,004 overnight stays, a 1.5% increase on 2016. Moreover, Terme Čatež successfully completed its planned investments.

DZS and Terme Čatež underwent preventive restructuring last year, which was completed in the autumn as DZS and creditors reached a five-year deal on financial restructuring.

According to business daily Finance, the deal entails only publisher DZS and the Čatež spa remaining in the group.

Most claims to DZS are held by the Luxembourg-based York Global Finance Offshore BDH, a subsidiary of Capital Management.

The fund bought EUR 13.5m worth of claims from Gorenjska banka and EUR 67.66m worth of claims from the Slovenian bad bank. The total liabilities of the DZS group amounted to about EUR 169m at the end of 2017.