The group's operating profit halved in 2013, dropping to EUR 10.53m. The group sold 3.9 millions hectolitres of beverages, of which 34.6% was sold abroad.

CEO Dušan Zorko said in a press release that the situation on the market had worsened. The market in Slovenia was even more demanding because of a hike in VAT and excise duties, coupled with a drop in purchasing power.

The core company meanwhile increased its revenue by 1.3% to EUR 90.2m last year. Its operating profit was just under EUR 3m and the company posted a net loss of EUR 27.9m.

The main goal for 2014 is to preserve the existing market share in Slovenia and to boost sales abroad.

The group plans to sell four million hectolitres of beer and beverages in 2014, 62.5% of which in Slovenia. The group expects to generate EUR 270.3m in net revenue this year and EUR 23.8m in operating profit.

The results were released just as the company reached a deal with its creditor banks, extending the maturity of loans until the end of 2016. The plan includes several key points, including a recapitalisation in mid-2015.

Zorko added that the group was still burdened by high debt caused by the former management. He pointed out that the group was already selling its stakes in water company Radenska, brewer Birra Peja and publisher Delo and expects to offload the stakes by the end of the year.

Laško is also selling its stakes in publisher Večer and retailer Mercator. "With a successful offloading and a recapitalisation, Laško will be able to reach a sustainable level of debt allowing further development," Zorko underscored.