The Slovenia Times

Oil maker Gea going strong


The Slovenska Bistrica-based company, part of the Plasta group owned by Franc Frelih since 2018, increased production 38% to almost 35,500 tonnes of products.

Gea, which continued to be led by Igor Hustić after the takeover, generated EUR 17 million of its sales revenue in Slovenia. Italy remained the biggest export market, accounting for 60% of all exports.

Hustić says in the annual report that unlike in preceding year, the company did not have to deal with substantial fluctuations on the raw materials market last year, a negative exception being December.

Even tough it is operating on "a ripe market" and has faced additional costs related to waste disposal, transport and wages, Gea substantially exceeded its targets last year and preserve good liquidity and solvency.

Most of the EUR 0.5 million in investment planned for 2019 was executed, while EUR 775,000 have been earmarked for investment this year, most of it for treatment plant maintenance and for its Gea&Aba facility in Vogošća, Bosnia-Herzegovina.


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