STA’s revenue up 1% in 2020

Slovenska tiskovna agencija (STA).

Ljubljana – The STA generated EUR 4.28 million in revenue in 2020, up 1% on 2019 despite the aggravated situation due to the the Covid epidemic. Net profit reached EUR 17,800, according to the annual business report, which the supervisory board endorsed on Monday. The supervisors also discussed the government’s proposal to dismiss the director.

As the need for trustworthy news increased during the epidemic, the STA increased its Slovenian-language news service output by almost 9% over the year before, while the output of its English service increased by as much as 16%, the agency said in a statement after the session of the supervisors.

Towards the end of 2020, the STA was faced with the Government Communication Office’s (UKOM) decision to suspend its funding even if it had a valid contract with UKOM.

The government’s debt to the STA stemming from the non-payment of the public service was then paid at the end of January this year.

UKOM and the STA have, however, not yet signed a public service financing contract for 2021.

The STA is also not receiving funds for 2021 on the basis of its business plan as stipulated in a provision in an emergency coronavirus law passed at the end of December.

Under the business plan for 2021, which the supervisors adopted last December, the STA will need slightly more than EUR 2 million to carry out the public service.

The supervisors also discussed today the management’s assessment of the STA’s financial situation and its proposals to ensure liquidity to avoid insolvency if the government does not restart financing.

The supervisory board also discussed the STA-related decisions the government adopted in March, including to dismiss director Bojan Veselinovič.

But the supervisors concluded that in its decisions, the government refers to an UKOM report, which the supervisors have not yet received.

The government had attached a document to its decisions, but it is not signed, so the supervisors said it was not clear who had prepared it and what its purpose was.