Significant investments amount to €2.4 billion

The most active investment sectors included automotive, chemical and petrochemical industries and telecommunications.

Illustrative stock photoIllustrative stock photo (Source: Sme)

Altogether 70 industrial and commercial companies carried out significant investments in Slovakia, amounting to €2.4 billion last year, which is more than a year before. The firms invested mostly into extending their production capacity and making it more efficient, as well as into new products and new manufacturing processes.

This stems from a current analysis of the consulting company KPMG Slovensko, the TASR newswire reported.

The company surveyed firms with turnover higher than €10 million or capital expenditures higher than €10 million. This was the case of 1,046 companies last year whose investments totalled €3.7 billion. The average amount of each investment was €3.5 billion.

The selected companies did not include companies owned by the state or companies active in the real estate and energy sectors, TASR wrote.

The significant investments, according to KPMG, exceed €10 million on average. The analysis of available financial statements of Slovak companies suggests that the number of companies which carried out investments exceeding this level last year increased by 10 to a total of 70. Fifty-five of them had turnover higher than €10 million, while the remaining 15 had lower turnover.

The significant investments carried out by all 70 surveyed firms amounted to €2.4 billion last year, which represents 65 percent of the total investments. The average amount of investment per company amounted to €34 million.

About 40 percent of all investments were carried out by six companies that invested more than €100 million.

The most active investment sectors included automotive, chemical and petrochemical industries and telecommunications. Also companies active in metallurgy, pharmaceutical sector and furniture construction reported good results, TASR wrote.

The analysis also showed that most of the companies invested into extending their production capacities.

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