Sunday, 11 October 2020

New Award for Lino Lada Ice Cream from Podravka and Ledo

As Novac writes on the 10th of October, 2020 - Lino Lada ice cream, created in collaboration with Podravka and Ledo, won the Golden Basket (Zlatna Kosarica) for the best product in the year 2019, a prestigious annual award given by the magazine I TRGOVAC.

In the category in which there are traditionally the largest number of applicants and strong competition of top Croatian products, Lino Lada ice cream won the expert jury over with its unique taste and innovation. The Golden Basket is a new big recognition for Lino Lada ice cream, which was declared the best in the world at the International Ice Cream Consortium in Sweden last year.

''The Golden Basket for Product of the Year confirmed that, together with our partner Ledo, we've recognised the potential of expanding the range of Lino Lada cream spreads into new innovative categories such as impulse ice creams. In the past period, Lino Lada ice cream has achieved exceptional results and delighted consumers on both the domestic and global markets. The Lino Lada brand is once again proving to be a favourite cream spread, and winning the Golden Basket for the product of the year for the second year in a row is an additional confirmation of the quality and innovation of Podravka's products,'' said Vesna Visnic, Podravka's Director of Kids' Food, Sweets and Snacks.

''We're extremely honoured to have received this award as another proof of the quality of what we do, for Lino Lada ice cream, which we made in collaboration with Podravka, which is truly the perfect partner for such an attractive and innovative product. In addition, it is a confirmation dedicated to the hard work of our employees, and especially the development team that successfully turns their creative ideas into the finest ice creams and frozen products. So, congratulations to them too! Every year we try to develop some new flavours and combinations and take a step further in the desire to innovate and enhance our creativity to meet the most diverse requirements of our customers and consumers, because they're our number one priority. This shows that we're succeeding in that,'' said Stela Ilijas, Assistant Director of Marketing and Development.

Lino Lada ice cream was first launched on the market in April 2019. In just a few days since the launch, the first stocks were sold out, making it the most sought-after dessert in all of the Republic of Croatia, and a total of 2.8 million pieces of Lino Lada ice cream were sold on the Croatian and foreign markets last year.

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Friday, 24 July 2020

Ledo Donates More Than 750,000 Kuna to Croatian Red Cross

As Poslovni Dnevnik writes on the 23rd of July, 2020, as part of the "Take Me Home/Ponesi me doma" campaign, the much loved Croatian ice cream brand Ledo raised more than 750,000 kuna for the Croatian Red Cross "Your gift for the right thing/Vas dar za pravu stvar" humanitarian action intended for the most needy members of the community.

The campaign lasted from May the 8th to June the 7th, 2020, and during that period, Ledo donated two kuna from the sale of each Quattro ice cream in a package of 1650 ml. With the collected amount, Ledo will help as many as 3,000 families by providing basic foodstuffs.

"We'd like to thank the company Ledo, which recognised the Croatian Red Cross as an organisation that cares for thousands of people in need throughout Croatia every day. Unfortunately, the number of people who need help with basic foodstuffs is growing and it is the task of all of us not to forget these people and to give them a helping hand," said Robert Markt, executive president of the Croatian Red Cross.

These funds will enable the purchase and distribution of food packages to those who are most need across the country. One package worth 250 kuna is enough for two weeks, and contains food for two people such as salt, flour, oil, sugar, rice, pasta, soup in a bag with canned fish and meat.

Given that more than 8,000 families in the Republic of Croatia don't have a daily meal, with this campaign with the Quattro brand as their favourite family ice cream, Ledo wanted to raise awareness of this problem and encourage citizens to show their solidarity.

“Since Quattro is synonymous with family, we wanted to make a difference with this favourite ice cream and contribute to the most needy members of the community. Being able to help as many as 3,000 families is truly a great pleasure. We're happy that with our "Take me home" campaign, we were able to provide a feeling of warmth and a family home to those who need that the most, and at the same time, encourage consumers to spread solidarity and a sense of togetherness,'' said Ivan Babić, President of Ledo.

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Thursday, 30 April 2020

Coronavirus: Ledo Makes Generous Donation to Four Zagreb Hospitals

As Poslovni Dnevnik writes on the 29th of April, 2020, Ledo has provided a donation of more than five tonnes of goods worth more than 100,000 kuna to four hospitals in Zagreb and the Good Home (Dobri dom) Institution, which takes care of those who are most in need.

These are packages that contain a number of Ledo's ready-made and frozen products, such as frozen vegetables and fish, meat, and sweet and savory dough.

Ledo made part of this generous donation, amounting to 60,000 in total, to the Zagreb Clinical Hospital Centre, the Zagreb Children's Hospital, the "Sveti Duh" Clinic and the "Dr. Fran Mihaljevic'' Clinic for Infecious Diseases. While through the ''Good Home'' Institution, Ledo donated a further 40,000 kuna worth of Ledo products.

Thus, the largest Croatian producer of ice cream and frozen food has once again shown that small steps build solidarity in emergency situations. This large Ledo donation, along with several smaller ones the company has already provided to the community since the coronavirus crisis began, is part of the Fortenova Group's overall contribution to the communities in which it operates. The total amount of Fortenova Group donations across Croatia and the immediate region has reached four million kuna during so far.

“Ledo is a socially responsible company with a long tradition. With these donations, we want to help to facilitate the work of hospitals, but also to thank all those who are tirelessly fighting the epidemic and helping those who need it the most in this situation. A big thank you goes out to all our employees who, in this emergency, are making an extra effort and showing their dedication to keep the production process running smoothly and to ensure the regular supply of markets in Croatia and across the region,'' said Marin Poljak, CEO of Ledo.

Thanking Ledo for the generous donation, Alen Zupan, the director of the Good Home Institution, emphasised that health and safety in these extraordinary circumstances are our common priority.

"It's therefore important to ensure that the system in which we operate is geared towards the most vulnerable citizens, so that it can cope with the potential spread of the disease, but also to remedy the effects of the severe earthquake which hit the City of Zagreb. Therefore, we'd like to heartily thank Ledo for a truly valuable donation to our Institution, which is intended for all of our fellow citizens in need of social protection who are beneficiaries of our social services,'' said Zupan.

Similarly, Ledo was thanked for the donation by Goran Roic, the director of the Zagreb Children's Hospital in Klaiceva, on behalf of the facility, the staff, and of course its young patients and their parents.

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Wednesday, 23 October 2019

Ledo's Ice Cream "Lino Lada" Proclaimed Best in World!

Ledo's ice cream was created in cooperation with Podravka and was launched on the market back in April this year.

As Poslovni Dnevnik writes on the 22nd of October, 2019, Ledo's popular ice cream, Lino Lada, has been named the best ice cream in the world by the International Ice Cream Consortium. The competition was held in Sweden where Ledo's products once again stood out thanks to their creativity, ideas and performance technology. Experts were delighted with the unique shape of the Lino Lada ice cream and the innovative soft dressing, but what made this the best ice cream in the world was the experience of the Lino Lada spread that was successfully transferred onto the ice cream.

As stated, the ice cream was created in cooperation with Podravka and was launched on the market in April this year. The first supplies were then sold out in just a few days, making this ice cream the most sought after dessert of all. Ledo's Lino Lada duo ice cream is a combination of fine hazelnut cream and milk cream, and it's all wrapped in a double soft nougat and milk chocolate topping and is, as such, quite an innovation in the ice cream market. The appearance of the Lino Lada jar is further enhanced by the enjoyment of the ice cream coupled with a favourite creamy spread.

"As Lino Lada has become a favorite brand of cream spreads with a wide variety of flavours, there has been the need to spread this unique flavour to other, related categories like ice cream. It is the innovation and upgrading of what Podravka can do that is the foundation on which we build our success, and we're especially pleased when we're doing in collaboration with our partners, domestic companies. Thus, Podravka initiated the development of Lino Lada ice cream, and the ideal partner for cooperation was Ledo, the leading ice cream producer on the Croatian market. With this collaboration, the unique taste and experience of Lino Lada spreads has been transformed into an icy experience that has delighted consumers around the world, as well as international experts,'' said Vesna Višnić, the director of Podravka's children's food, desserts and snack business program.

"We're extremely proud of this award and the recognition for which Ledo ice cream has been recognised as the best ice cream in the world by the profession, that is, by global independent ice cream producers. Being the best in the world is a great honour, as is the obligation to continue to produce the highest quality ice creams in the future, leading globally with technological solutions, innovations and creativity,'' said Marin Poljak, CEO of Ledo.

Podravka developed its two-colour cream spread way back in 1998 and today, in as many as five flavours, it can be found on the shelves in more than twenty countries worldwide, stretching far beyond Europe and covering all continents. The most popular flavour is still the Lino Lada duo, now available in the form of irresistible ice cream. Podravka continuously monitors the preferences of consumers of cream spreads and strives to offer new flavours as a reward for loyalty to the Lino Lada brand.

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Friday, 9 November 2018

Despite Recovery, Todorić's Legacy and Agrokor's Debts Paint Bleak Picture

Ivica Todorić has returned to Croatia after more than a year in London, having landed on the territory of a country in which he is no longer the owner of the largest regional company. Exactly one year after handing himself in in the British capital, living under the watchful eye of the Metropolitan police and after an agonisingly long court battle, Agrokor's former untouchable main man returned to his homeland utterly powerless. A far cry from the not so distant reality Todorić once enjoyed, having once owned his own private island, Smokvica.

As Jutarnji/Vanja Nezirovic writes on the 9th of November, 2018, unlike back on the 10th of April 2017, when he signed Lex Agrokor, which activated the law to allow the Croatian Government to step in and rescue Agrokor, and unlike in the autumn of the same year when he temporarily "emigrated" to London, Agrokor's largest single owner is now Russia's Sberbank with a 39.2 percent stake. The settlement was a long and painfully complex process, however, in order to execute such a settlement, creditors, primarily financial lenders, had to write off a large part of their claims, around 60 percent.

Namely, the exact amount and percentage of the final write-off of the creditor's claims will be known at the time when Agrokor is sold. To recall, on April the 10th, 2017, Agrokor had 7.7 billion euro in debt, of which about 1.5 billion euro was debt within the group, which means that the debt to third parties actually amounted to about 6.2 billion euro.

If we know that the framework calculations of Agrokor's value are projected at about 2.3 billion euro, this would mean that the creditors, primarily financially (based on this nominal projection), were forced to give up an enormous total of about 4 billion euro. This was the price of the survival of Agrokor, which for now, following these write-offs, has a debt of 1.06 billion euro in so-called roll up loans.

Agrokor's medium and large suppliers have so far averaged 60 percent of their claims for goods and services, were paid 500 million euro in cach for old debts, with 46 percent of them having a return of between 80 and 100 percent. When the rest of the debt is paid out over four years, and when part of Agrokor's property is converted, their return will amount to about 80 percent. The bonds' return rate ranges between 40 percent and 80 percent, while the largest number of domestic and foreign financial institutions and other creditors will have an average return on demand of up to 20 percent.

At the time of signing Lex Agrokor, Todorić's Agrokor Group was blocked in the amount of 3 billion kuna, and it was naturally expected that this dire situation could lead to Croatia into a short-term recession. The possibility of Agrokor's bankcruptcy could have, according to CNB/HNB (Croatian National Bank) projections, lead to several smaller banks entering into a very dangerous situation indeed, yet while the banking system luckily remained stable, the losses bigger banks suffered were felt almost immediately.

Even with the implementation of a specially regulated bankruptcy proceeding through Lex Agrokor, several contract suppliers ended up in bankruptcy or having to undertake pre-bankruptcy proceedings, some stabilised the recapitalisation of third parties, some are still awaiting ownership and business restructuring, but a stronger economic and social shock was thankfully avoided.

Today, Agrokor's debt has been reduced to levels that should be viable, things are generally much more stable and the company is expected to return to normal function in 2019. The results of companies like Jamnica and Ledo, are once again very good, Konzum seems to be more than just recovering, but some other companies from within the large Agrokor umbrella, like Velpro and Konzum BiH (Bosnia and Herzegovina) are still very vulnerable.

It's also clear that agricultural companies such as Vupik will need some more time to recover properly, but the overall picture of the company today is much more healthy than it was a year ago, thanks to the current extraordinary commissioner, Fabris Peruško.

That means that the Croatian economy, a much more than significant part of which is made up by Agrokor, has gone from being under grave threat, to being more stable, more safe, and more competitive.

Want to keep up with the latest news and detailed information on Ivica Todorić and his swapping of London for Remetinec prison? Make sure to follow everything here.

 

Click here for the original article by Vanja Nezirovic for Jutarnji List

Friday, 27 July 2018

Konzum Reports Drop in Revenue and Losses

ZAGREB, July 27, 2018 - The Konzum retail chain generated a total revenue of 9.1 billion kuna and a loss of 3.9 million kuna in 2017, the company said on Friday.

Wednesday, 3 January 2018

Agrokor's Shares Continue to Grow

Some signs of long awaited recovery in Agrokor as shares belonging to the ailing company continue to grow strongly.

Friday, 1 December 2017

Varied Operating Performances from Jamnica, Ledo, Tisak and Zvijezda

As companies present varied reports, one can only turn their sights back to Agrokor's failings...

Tuesday, 28 November 2017

Todorić: ''Hybrid War Against Croatia Being Driven by Government and Ramljak''

According to Ivica Todorić, the apparent hybrid war facing Croatia is all at the hands of the government and of course, Agrokor's extraordinary commissioner...

Saturday, 5 August 2017

Ledo Ice Cream Hits Portuguese Shelves

The leading Croatian and regional ice cream producer, Ledo, started exporting their ice cream to Portugal.

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