Alagić, Toplane Director: Launching renovation investments as a priority in the next 4 years

KJKP „Toplane - Sarajevo“ d.o.o. is finishing the business year 2019 with a positive result. Expected revenues as of 31.12.2019 amount to over 60 million KM, and the expected profit
amounts to over 4 million KM. The positive financial result will contribute to reducing the accumulated loss above the capital amount, which is over 80 million KM.

The new Management has decisively embarked on consolidating processes within Toplane, as well as on an investment cycle that will include the necessary overhaul of the entire system, based on the "Feasibility Study on the Expansion and Improvement of the District Heating System in Sarajevo Canton" adopted by the Government of Sarajevo Canton. Specifically, this is a project for which Toplane will seek financial resources from foreign creditors with adequate guarantees from the Government of Sarajevo Canton, whose support we have in initiating these activities.

"In parallel with the above, thanks to the positive financial result, Toplane Sarajevo will use its own funds to begin fulfilling the ambitious Plan for 2020, which includes urgently needed investments amounting to over 10 million KM intended exclusively for the implementation of capital infrastructure projects. We remind you that the average age of our facilities is 20 to 30 years, which represents a significant systemic risk to the stability of the entire heating system in Sarajevo Canton.

Furthermore, we continue with an active approach to collecting over 90 million KM in receivables, as well as with disconnections of debtors, legal and natural persons, for whom the conditions have been met. The first results of the activity of disconnecting debtors beyond the payment deadline are already yielding significant effects that will directly contribute to the further stability of Toplane's operations," stated Toplane Director Berin Alagić.