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Slovenia Business Week no. 42: Engrotus Gets Second Gazelle Award for Fastest-Growing Company

Engrotus saw all performance indicators soar by 36% Y/Y last year

Engrotus is the winner of the 2005 Golden Gazelle award for the fastest growing company in Slovenia. The Celje-based retailer received the prize on Wednesday, 12 October as the fastest-growing retailer in the country, and the most rapidly expanding enterprise on the consumer goods market overall.

Engrotus saw all performance indicators soar by 36% Y/Y last year. Notably, the company increased sales to SIT 89.5bn (EUR 373.6m), whereas the parent Tus Group posted revenues of SIT 115bn (EUR 480m), according to Gazela R.E., the company which awards the prize.

The retailer's market share in Slovenia is 18.2%, which they intend to increase to 25% by 2007. Plans for the future include expansion to Serbia and Macedonia, whereas the company's ultimate objective is to become the most successful retailer in Southeast Europe.

Engrotus which won the prize in 2001 as well, increased sales by 4.6-times in the past five years and created 1,841 new jobs in that period.

This year's Silver Gazelle went to Euro Plus, a maker of software used in the printing of labels, barcodes and Radio Frequency Identification (RFID) tags. Sep, a manufacturer of plastics for the automotive industry, won the Bronze Gazelle.

The 500 fastest-growing enterprises last year posted sales of SIT 691m (EUR 2.88bn) and created 10,889 new jobs over the past five years.

Gazelles from central Slovenia saw the biggest growth in sales and exports in the past five years, while gazelles from the Savinjsko-Zasavsko region posted the highest profits.

Last year the Golden Gazelle award went to Keko Varicon, a maker of ceramic electrical components.

Source: Slovene Press Agency STA

Author: STA