Significant growth of Sojaprotein's net profit expected - Victoria Group's new investment cycle worth 65 million euros

Nikola Vujacic, the Director General of Victoria Group holding, a part of which is Becej-based Sojaprotein, told monthly magazine Preduzece that that soybean processing company would significantly improve the final result from August, as well as that he expected the value of the company's shares to grow.

According to his words, Sojaprotein has drastically reduced the debts after the period during which a significant share of the balance sheet was burdened by the exchange rate differences. Operational profit was on a good level, but it was "eaten up" by negative differences in exchange rates. He pointed out that he expected a smaller influence of the exchange rate starting from August and a significant growth of the value Sojaprotein's shares, primarily due to the fact that the net result would be drastically better.

Vujacic said that the biggest soybean crop on that territory was expected in 2010 - about 550,000 tons instead of average 300 to 350 thousand tons. According to him, that will definitely push the price down, but he does not believe that it will drop below EUR 240-250 per ton so that it will be a good year for Sojaprotein. He also mentioned that Victoria Group had started a significant investment cycle and that the plan was that 40 million euros be invested in the production of electricity from renewable sources and about 25 million euros in the factory of soybean-protein concentrates in Becej.

The price of Sojaprotein's shares has been stabilized over the last few days around the level of RSD 675 after a significant correction caused by the issue of 29.1% of shares from the retained earnings, as well as by the poorer-than-expected result at the end of the first six months of 2009. With aforementioned price, the company's market capitalization amounts to 6.65 billion dinars (63 million euros).

Sojaprotein d.o.o. Bečej

ADM Nutrition Holding d.o.o. Beograd- privredno društvo obrisano iz registra

Sojaprotein

Victoria Group

soybean

Nikola Vujacic