Kočevje, 28 April (STA) - The chemical company Melamin generated EUR 47 million in revenue in 2024, up 3% from the year before. The Kočevje-based company recorded a net loss of EUR 534,000 last year, after it ended 2023 with more than a million in profit.
The geopolitical situation kept prices of raw materials high last year and at the beginning of 2025, Melamin wrote in its annual report for 2024 published on Monday.
Melamin sells its products, which are predominantly resins for the paper and construction industry and impregnated decorative papers for the furniture industry, in 50 countries. It generates 89% of its revenue in foreign markets.
The company generated 88% of its revenue in the chemical industry, where revenue grew by 8% in annual comparison. The revenue from supplying the footwear industry, representing 6% of total revenue, dropped by 31%, while the revenue from supplying the timber industry decreased by 2%.
Melamin is still recovering from a massive explosion at the plant in 2022, in which seven people died and the infrastructure was damaged. By the end of 2024 the company was able to restore around 80% of its production capacities.
After the incident the company started to look for a new location to move part of the production there. They have not given any details yet but they did propose to the Economy Ministry to change the national spatial plan to include the potential new site.
The share of investment in revenue reached 18%, largely due to the restoration of production and warehouses. Melamin's liabilities to banks increased by 26% and the share of capital in liabilities to sources of funds reached 47%.
The company is planning a 19% growth in revenue for 2025 and a 7% share of investment in revenue. They are also planning tougher savings measures in labour costs, which represent more than 60% of added value.
The continued cooling of the German, French and Italian economies means that prospects for 2025 remain uncertain, the company said.
