Mežica - TAB, a maker of starter and industrial batteries, posted EUR 260.2 million in sales revenue last year, up 12% compared to the year before. Net profit was up from EUR 16.2 million to EUR 16.5 million. Activities related to the launch of production of lithium-ion cells in Prevalje continue.

Earnings before income tax, depreciation and amortisation (EBITDA) increased from EUR 26.7 million to EUR 26.9 million last year.

Given the situation on the market, including price hikes, disturbances in the supply chain and the pandemic, the company is happy with the results, TAB told the STA.

The company's output of industrial cells and starter batteries was up from 1.2 million to 1.4 million pieces and from 2.6 million to 2.7 million pieces, respectively.

The overall trend in business results continues this year. In the first quarter, TAB generated EUR 63.4 million in net sales revenue. The amount of industrial cells remains level, while the production of starter batteries decreased somewhat.

The company plans to produce 1.4 million pieces of industrial cells and 3 million starter batteries this year.

At the end of last year, TAB employed 670 people and is constantly looking for staff. The average monthly gross wage stands at EUR 2,064 and the holiday allowance will be paid out in June, the company said.

Meanwhile, efforts continue to launch production of lithium-ion cells in Prevalje. The plans have been set and certain production and commercial activities are expected to start in Prevalje this year.

Because of the risks associated with disruptions in supply chains on the global market, TAB gave up state subsidies for the project managed by TAB-Haidi, a joint venture the company has founded with an Asian partner.

The production in Prevalje is to be set up in a newly built but never used hall that the company purchased from the pharmaceutical company Lek.

Lek, who is a part of Novartis, is concluding its production of antibiotics in Prevalje this year. The production there has been extended by six months, until the end of September.

TAB is also to hire up to 95 of Lek's employees.