'' We recognized the first signs of the upcomming economic crisis late last year ,so we  planned a significantly lower total income and other categories for 2009 '' – says Ivica Kožul, Chairman of the Managing Board of Brodomerkur when reviewing the year that comes to an end.

Unfortunately, our forecasts were completely confirmed already in January and February; hence, late February we commenced to redefine the strategic goals in relation to the ones defined in the business plan for 2009.

The basic goals became as follows :

-          to keep all jobs;

-          to keep the solvency of the Company ;

-          to decrease all kinds of costs and credit liabilities ;

-          to provide the sustainable business minimum .

Unfortunately, the business conditions have additionally worsen and the nonliquidity has increased/ state owned companies, civil engineering sector ,etc./ in the course of  the year .

The financial expenses, being a consequence of the increased capital price,  additionally eroded the already decreased result.

The beginning of the last quarter of 2009 was characterized by a significant number of the  formally blocked clients and by an increased number of partners either facing bankruptcy or already gone bankrupt , which was an extra attack on the result.

An increased non-collectibility of the outstanding debts has been not only a characteristic of the Wholesale sector, but of the Banking sector as well ,being objectively in a much more favourable situation as regards the protection of the outstanding debt collection.However, we believe that we will bring this business year to an end with a positive result.

What to say about 2010 after the Opatija Conference forecasts ?

A series of questions is to be raised – how to run business positively, how to be solvent, how to provide development ,etc.

The basic task is,by all means, to find new markets, market niches, a demand able to pay ,and also :

-          to adjust the company organization to the new conditions;

-          to recheck all kinds of costs and take a stand towards them, including human resources;

-          to increase the income per employee ;

-          to increase the quality of service.

To adjust quickly and in terms of quality to the actual economic enviroment is a prerequisite of survival ,which is specially applicable in  the next six to nine months.