Net income fell to 13.9 million euros ($17.5 million) from 18.6 million euros the previous year, the Novo Mesto, Slovenia- based company said in an e-mailed statement today. Revenue at Slovenia’s second-biggest exporter after appliance maker Gorenje Group d.d. dropped 15 percent to 1.13 billion euros in 2011.
The company’s supervisory board extended the mandate of the three-member executive board, including its president Ales Bratoz, until June 2016. The company said it will pay no dividend from last year’s earnings.
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