Ante Todoric, vice president of Agroko - Just don't ask me about Mercator

Source: eKapija Sunday, 23.09.2012. 17:34
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Podeli

(Ante Todoric)

Has a stop finally been put to negotiations with Mercator and why? Is there any chance for Serbian and Croatian companies to join their forces to access other markets? How much will the VAT increase in Serbia affect the prices of food products. Ante Todoric, vice president of Agrokor, answers these and some other questions in an interview with eKapija.

eKapija: Citing reliable sources, the media in Slovenia have announced that Agrokor finally gave up the acquisition of Mercator. Is that true?

- I have no comment.

eKapija: Does that also mean that you cannot give any comment on speculations that the failure of negotiations and your company's decision to give up the acquisition came as a result of the delay of UniCredit Bank and Raiffeisen Bank's aid to Agrokor?

- Choose any topic you like but that one. (laughter)

eKapija: Is it possible to establish regional cooperation and make it possible for Serbian and Croatian food companies to access other markets together?

- All food companies in the region still have so much potential - for investments, to develop their capacity, etc. There is no need to speak about the potential of Serbia and Croatia in the field of agriculture, so that I think it is a priority to defend this region and maximize all the potential.

We are all small markets where it is very difficult to get organized and become a worthy competitor to the players coming from large markets. That is why synergy and mergers are important, and so are joint intelligence and idea, and not business alone. We need a common vision and strategy that must be fit to lead to a business success.

eKapija: Aside from unstable exchange rate, do you experience any other problems in Serbia?

- Apart from the exchange rate, we do not have any other problems with our operations in Serbia, except for the problem of general crisis and the fact that this region has been stagnating for a total of four years now. All of us have good companies here, more or less, and good staff, but the only thing that lacks is consumption.

eKapija: Are you satisfied with Agrokor's business results in Serbia?

- Agrokor employs 6,500 people in Serbia, we are the fifth largest company here, our consolidated revenue amounts to EUR 800 million, so that we are quite satisfied with our operations in Serbia and hope to keep it that way in the future and become even stronger by reinvesting all that money in our business in this market.

eKapija: Given that you are already satisfied with your operations here, can we expect any new acquisition in our market?

- Agrokor is always thinking and is active in the market, so that we are open to any good offer.

eKapija: What is your comment on the prices of food products in Serbia?

- Prices of food products in Serbia are still low. Food here is 20 to 30 percent cheaper than in Europe and Croatia, and as much as 40 percent cheaper than in some other countries.

eKapija: Is the increase in VAT going to result in some important changes?

- I do not expect this year's inflation in Serbia to exceed 10 percent. I do not believe either that the VAT increase will lead to some drastic changes. It will cause prices to grow 1 percent. Prices should grow up to 10 percent, and maybe even less.

AGROKOR TO INVEST EUR 100 MILLION IN SERBIA

Few months ago, Ante Todoric, vice president of Croatia's Agrokor, said that that company would invest about EUR 100 million in Serbia over the next 12 months and promised that there would be no layoffs in our country.

When asked why Agrokor had decided to make new investments in Serbia in addition to about EUR 450 million it had already invested in our country, Todoric said that it was because Agrokor was feeling welcome in our country and because the company deemed Serbia as the natural surroundings of the country it was coming from.

Jelena Djelic

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