News

The international credit rating agency Standard & Poor's Global has upgraded the long-term credit rating of Zagrebački holding d.o.o. from B+ to BB, with a stable outlook.

The negotiating committees of Zagrebački Holding and representative trade unions signed today the new Collective Agreement for workers in the trading company Zagrebački holding d.o.o., which successfully concluded the negotiations on increasing the material rights of workers and thus ensured social peace, as well as further business stability.

Moody's confirmed the Baa2 credit rating of Zagreb Holding and changed the outlook from stable to positive

As stated in the report, the key advantage of the Zagreb Holding is its diversity and exposure to a wide range of utility services that it performs for the City of Zagreb, which is 100% owner of the company.

The Assembly of Zagreb Holding, composed of Mayor Tomislav Tomašević and his deputies Danijela Dolenec and Luka Korlaet, at its session held on 13^th February 2023, passed a decision appointing Kristijan Starčević as a new member of the Supervisory Board. The previous member of the Supervisory Board, Ratko Bajakić, resigned from the member position of the Supervisory Board for personal reasons.

This is the second increase in Zagrebački holding's credit rating in the past few months and, among other things, reflects the agency's expectations that Zagrebački holding, with the implementation of the initiated organizational, operational and financial restructuring measures, will reach the planned goals by the end of this year despite the challenging macroeconomic and energy environment.

Moody's raised Zagreb Holding's long-term rating by two levels on Tuesday (July 19th 2022), from Ba1 to Baa2, placing it in the investment category, with a stable outlook. ​The credit rating followed Moody's decision to raise the rating of the Republic of Croatia on July 15, 2022.

The Governing Council of the City Pharmacy Zagreb made a unanimous decision to appoint Marijo Vukušić as the director of the City Pharmacy Zagreb based on a public job application from April 4, 2022.

On Monday, May 23, 2022, the international credit rating agency Moody’s confirmed Ba1 credit rating of Zagreb Holding with a stable outlook. 

Earnings in 2021 before interest, taxes, depreciation and amortization (EBITDA) amounted to HRK 230 million and were HRK 77 million higher than in 2020, before the adjustment of one-off items for 2020 and 2021. The increase in EBITDA means that a recovery is visible and that the business trend is reversed in a positive direction.