Victoria Group Corporate Brochure

 

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corporate brochure 1

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about us synergy system of victoria group victoria group is one of serbia s leading companies in the field of agro-industry and one of the largest producers exporters and investors in both serbia and the entire region the group is comprised of ten member companies which are interlinked into one business system ­ sojaprotein victoriaoil fertil victoria logistic veterinarski zavod subotica veterinary institute subotica sp laboratorija sp laboratory luka backa palanka the port of backa palanka riboteks victoria phosphate and victoria starch the group s core business activities include the purchase and processing of oilseeds and grains the production of mineral fertilisers finished food products for human consumption and animal feed as well as the production of veterinary chemopharmaceuticals and biological products the group s products are sold in over 40 markets across the world with european union countries being the most predominant destination victoria group s significant share in agribusiness and the overall economy of serbia has been achieved through its strategic approach to the agriculture industry its commitment to the highest quality standards in all segments of its business activities its continuous investments and the cutting-edge technologies it employs in its production system since its establishment in 2001 the group has constantly grown and developed and consistently pursued its vision of becoming the region s leader in agro-industry having recognised the immense potential of victoria group the european bank for reconstruction and development ebrd made its largest equity investment in a private sector company in serbia acquiring a sizeable stake in the group in 2009 the partnership established with the ebrd and our close working relationship with a large number of local and international commercial entities and financial institutions such as the world bank group s international finance corporation ifc are a testament to victoria group s multifold success ­ from strategy and financial results to its employment policy and quality management as well as to its socially and environmentally responsible investments nowadays victoria group employs almost 1,800 highly motivated professionals led by a world class management team as a reliable partner victoria group has cooperated successfully with more than 40,000 farmers through 300 cooperatives building its relationships on understanding trust and the rewards of success in this way the company ensures a high level of professional ethics on the part of both its employees and its partners who observe and promote corporate values such as teamwork integrity reliability high quality standards long-term collaboration and social responsibility 4

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our mission we work together with support and invest in the agricultural community at large ­ with the aim of creating sustainable value for our diverse stakeholders by implementing and upholding best practices within the context of our industry as well as the region our vision to combine a distinct entrepreneurial spirit within a robust corporate framework in order to maintain our leadership position in the agro-industrial sector and maximise the region s potential therein by being a coveted employer to our staff a reliable counterparty to our business partners the preferred supplier to our customers and a responsible corporate citizen to the wider community 5

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about us 10 member companies 40,000 farmers eur 200 million investments in serbia for the past 10 years export to over 40 markets 1,800 employees 6

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value of csr and charity projects eur 500,000 annually among 500 most successful companies of central europe 300 agricultural cooperatives eur 206 million export in 2012 7

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financial information outstanding results from a top tier team driven by its ambition to create the most successful agro-industrial enterprise in the region victoria group has been achieving excellent business results since its establishment these have singled it out in the processing and manufacturing industry of serbia in 2012 the total operating revenue amounted to eur 487 million thanks to the results it achieved in 2010 and 2011 victoria group has been included in deloitte s list of the top 500 central european companies for two years in a row 567,035,000 541,922,000 515,677,000 463,410,000 171,561,000 132,833,000 363,252,000 437,666,00 80,640,000 2009 2010 2011 2009 2010 2011 2009 2010 2011 export revenues sales revenues operating revenue operating revenue revenues from sales of goods products and services revenues from sales on foreign markets ebitda ebit net profit victoria group consolidated financial results for 2012 8 487,786,000 465,419,000 206,025,000 78,186,000 46,880,000 15,217,000

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export potential from serbia to the world victoria group is one of serbia s largest net exporters which makes the group an important pillar and driver of the local economy the group s products are sold in 40 countries across the world and as much as 80 of its products are sold to european union markets its export portfolio is comprised of a wide range of finished and semi-finished products the member companies with the largest share in total exports are victoriaoil sojaprotein the veterinary institute subotica victoria logistic and fertil by continually investing in production processes and product quality and ensuring compliance with international standards victoria group has managed to stay highly competitive and to make gains in even the most developed international markets year in year out the company has been recording a constant growth in export results in 2012 the value of exports exceeded eur 206 million which was 20 more than the previous year and accounted for almost 10 of the total agricultural/food exports of serbia 9

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investments we strategically invest in the future over the last ten years victoria group has invested more than eur 200 million in the development of its local processing industry and in the production of food pharmaceutical chemical and other products taking into account the fact that agriculture is essential to serbia s overall economic output and future development victoria group has been pre-financing primary agricultural production with average annual amounts exceeding eur 100 million as a form of support for farmers to try and ensure successful harvests thanks to its wide network of partners in the primary agriculture sector as well as its processing capacities the company currently purchases raw agricultural products covering 200,000 hectares across serbia which directly benefits approximately 100,000 people in various local communities in addition to primary agricultural production victoria group also invests significant funds in the continual improvement of production and business processes in the past two years alone the company has made investments amounting to eur 55 million the most important projects in our investment plan included the soy protein concentrate production plant opened within the sojaprotein complex and amounting to eur 30 million as well as biomass energy plants installed in sid and becej intended for the optimisation of energy efficiency and striving for energy independence in january 2013 the international finance corporation ifc a member of the world bank group and victoria group signed a credit agreement worth usd 75 million which will be used to improve financing of the local agriculture sector and facilitate additional investments in agro-industry the arrangement with the ifc has further strengthened the reputation of the group as a reliable and desirable partner for international financial institutions and investors 10

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awards and certificates quality above all the introduction of new technologies and the modernisation of business processes in victoria group member companies have been accompanied with our observance of the highest european and international standards thanks to the introduction of a highly professional management team and the commitment of all its employees victoria group implements a policy of maintaining the highest quality standards from the moment raw agricultural products enter our factories to the moment the final products leave our premises as confirmed by a series of international certificates awarded to us for the implementation of standards in our member companies which include iso haccp ifs gmp iscc halal and kosher among others our commitment to quality has also been validated by the numerous awards presented to victoria group at international and national events and which were based not only on the votes of professional bodies but also of consumers our iskon oil brand is continually winning prizes and recognition it was awarded the best of serbia 2012 award as the best brand in the food category and was also given the highest marks for quality at the first independent testing conducted by the consumers association of serbia at the international agricultural fair in novi sad the products of our member companies fertil the veterinary institute subotica and victoriaoil have won the gold medal for quality several times socially responsible investments of victoria group have also been awarded on several occasions over the years as has been the quality of our business processes among the latest recognitions are the silver quality award for implementation of the sap business solution in central and eastern europe superbrands award for the best corporate brands my choice award for humanitarian projects as well as the award of vojvodina chamber of commerce for significant business achievements in vojvodina in 2012 11

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a socially responsible business we actively change the world as a member of several influential associations such as the american chamber of commerce the foreign investors council the german chamber of commerce the business leaders forum serbia and the united nations global compact victoria group strives to promote serbia s agroindustry in economic and financial circles that are both local and international each year the company invests significant resources towards corporate social responsibility over the last five years the company has supported more than 1,000 individuals and organisations focusing on activities aimed at stimulating agricultural development and supporting farmers investing in local communities where the group operates providing donations to vulnerable groups people with health and or livelihood problems orphaned children and persons with disabilities environmental protection and food safety and quality victoria group has taken part in numerous projects providing more than eur 1 million for the battle for babies campaign the food for all campaign regular donations to the soup kitchens for the residents of kosovo s enclaves donations aimed at solving housing issues of displaced persons and donations to the clinical centre and the emergency centre of serbia the children s hospital in tirsova street and the vojvodina institute for protecting the health of children and youth among others 12

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our employees our greatest strength victoria group recognises that it is the employees that make our business the success it is today guided by its awareness that they comprise the most valuable resource of the company victoria group constantly works to strengthen its employees motivation and to improve their knowledge expertise and skills through various training and other educational programmes as a result we have created a powerful team of experts with noteworthy experience and talent the continuous professional development of our employees both at the level of the group and in each individual member company ensures a continuous improvement of the quality of our products and the application of cutting-edge production techniques that is why our employees and the professional relationship they enjoy with the group its partners and its buyers are our greatest strength what lies behind all the goals we have achieved so far is the true commitment of our employees ­ 1,800 reasons for us to be proud 13

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sojaprotein headquarters becej established in 1977 member of victoria group since 2002 no of employees 407 total operating revenue in 2012 eur 132.1 million value of exports in 2012 eur 56.9 million website www.sojaprotein.rs 14

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sojaprotein soybean for healthy nutrition sojaprotein is the largest soybean processing factory in serbia and thanks to the diversity and quality of its products and a processing capacity of 250,000 tons per year it also ranks among the most important soybean processors in central and eastern europe at the same time it is one of the few companies to process exclusively non-genetically modified soybeans non-gmo and strictly control its origin and quality which adds value to the entire product range that the company exports to foreign markets the expansion of exports with a revenue exceeding eur 56 million generated in 2012 from sales in the european union cefta and efta russia turkey the middle east and north africa has certainly been assisted by the implementation of numerous quality standards these include the iso 9001 iso 22000 iso 14001 ohsas 18001 gmp kosher and halal certificates while the non-gmo identity preserved ip certificate confirming traceability of origin and the conservation of genetic purity holds a special significance sojaprotein takes pride in its wide assortment of soybean products which range from protein to oil products these include soy protein concentrates flour grits textured products crude oil lecithin and sojavita ­ a wide range of finished products for human consumption since 2002 when it became a member of victoria group sojaprotein has been achieving constant growth in its business results and serves as a model for a successful privatisation victoria group has made several major investments in sojaprotein the most important being the construction of a plant for processing traditional soybean protein concentrate with a processing capacity of 70,000 tons per year the value of this investment was eur 30 million and the plant which became operational in september 2012 has made this factory a leading complex in europe by integrating all soybean processing phases thanks to this latest addition exports are expected to reach 80 of sojaprotein s production in comparison to the current 50 due to their high concentration of protein the products manufactured in this new plant are most widely used in the food and pharmaceutical industries today sojaprotein is on the a list of the belgrade stock exchange and is one of only four companies whose shares are traded continuously 250,000 t 57 mil 133 mil 79 100 126,522 t 5.9 mil 54.6 mil 2002 2012 2002 2012 2002 2012 2002 2012 processing capacity exports revenue capacity utilisation operating revenue revenues from sales of goods products and services revenues from sales on foreign markets ebitda sojaprotein financial results for 2012 132,110,000 133,403,000 56,896,000 18,525,000 15

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