Serbian Metalac Group revenues rose 3% to €120m

Metalac Group ended 2019 with €120m of total combined income, almost 3 percent better than forecast and 7 percent higher year-on-year. One quarter of the group's total revenue was generated by exports to 40 countries. At the same time, exports were seven percent lower than in 2018, mostly due to Russian sales falling through. Metalac a.d. controls 15 subsidiaries, of which five are production companies are six are based in Serbia.

Their assignment in 2020 is to achieve total revenues of €121m in 2020, with a gross profit of €6m. However, given how the beginning of 2020 has turned out and with the risk of a global recession management has changed course and is now prioritizing liquidity and corporate responsibility towards the company's 2,200 employees..