Stoneweg EST sold its Slovak portfolio of logistics properties
Singapore-listed Stoneweg EST sold its portfolio of five logistics and light industrial properties in Slovakia for €71.4m to P3 Czech HoldCo. The disposal will reduce its exposure to Central Europe to 10.4%, down 3%. ( realassets.ipe.com ) This year, Stoneweg EST acquired the European portfolio of Cromwell, namely logistics and industrial properties with an area of 90,000 sqm near Bratislava and Trnava. ( trend.sk )
Slow Growth Keeps Slovak Wages Among EU’s Lowest
Slovakia’s gross wages were the fourth lowest in the EU last year, Eurostat reported. The annual full-time adjusted salary in the EU rose by 5.2% to €39,808. It was the highest in Luxembourg (€82,969) and the lowest in Bulgaria (€15,000). Annual full-time adjusted salary: 2024 2015 Austria €58,600 €41,868 Czechia €23,998 €12,396 Poland €21,246 €11,076 Slovakia €20,287 €12,370 Hungary €18,461 €9,735 Over the last decade, Slovakia had the lowest wage growth among the V4 coun
Kaumy Group is acquiring baby food firm Novofruct
The anti-trust authority PMÚ is reviewing a deal in which Czechia’s Kaumy Group is acquiring baby food and canned food maker Novofruct Nové Zámky. ( antimon.gov.sk ) Owned by Lithuanian group NDX since 2012, Novofruct had been operating at a loss for a long time and last year reported sales stagnating at €16.5m. Kaumy Group is part of CE Industries (Jaroslav Strnad) and focuses on the "healthy" and "functional" food segment.
Finax wants €7-9m from investors
Investment platform Finax (Ivan Chrenko) is preparing a public sale of shares but will not list them on a stock exchange. It wants to use new capital of €7–9m for further growth in key existing markets such as Slovakia, Poland, and Croatia, as well as for expansion into new markets. It plans to enter the Balkans with passive investments in ETF funds and will offer a European pension product (PEPP) in Western Europe. It manages assets worth €1.3bn for 100,000 clients. It valu
French group Engie is selling its business in Slovakia
French group Engie is selling its business in Slovakia as it shifts focus to more promising markets, sources told seznamzpravy.cz . The sale covers several entities operating heating plants, distribution networks, and facility management across the country: Engie Services, Prvá ružinovská spoločnosť, Račianska teplárenská, LMT, TH Moldava, Termming, and Energy Distribution. UniCredit Bank is advising on the sale and has already received offers. The price is expected to range
Slovakia no longer catching up with Western European living standards
While the Slovak economy grew at twice the EU average between 2000 and 2008, after 2015 the catching up with Western European living standards almost stopped , and Slovakia now ranks at the bottom of the V4 countries, according to an analysis by the central bank NBS. Instead of GDP growth, price growth accelerated; the price level here is 81% of the EU average, but household incomes are only 73%. The economy is unable to transition to higher value-added production, as the gov
Chinese aerogel firm IBIH Advanced Materials to invest in Trnava
Chinese aerogel materials manufacturer IBIH Advanced Materials plans to build a plant in Trnava. It leased premises in the local CTP park, but the investment amount was not disclosed. Aerogel materials are used as heat insulators in healthcare or EVs. ( trnava-live.sk )
Resilient car exports
Monthly car exports from Slovakia to the US averaged €187m in June–August, compared with €324m a year earlier, ŠÚ reported. The decline was caused by US tariffs, 25% since April and 15% since August. Total car exports from Slovakia in 1–3Q remained at last year’s level despite the Jaguar Land Rover plant in Nitra halting production in September due to a cyberattack. Slovak plants have apparently found new markets. ( dennikN.sk )
Slovakia to test digital euro
Slovakia is participating in pilot testing of the digital euro , the central bank NBS announced. It will be used by NBS employees and selected retailers. The digital euro is not intended to replace cash but to offer a new form of cashless payment independent of non-European card companies. For retailers, it will mean lower fees compared to cards. Citizens will be able to hold several thousand euros in digital wallets, outside bank accounts. If the rollout proceeds as planned,
Authorities trying to block Military Metals Corp exploring for antimony
Canada’s Military Metals Corp , through its Slovak subsidiary Slovak Antimony Corp, began geological drilling in the Pezinská Baba area. It is exploring for antimony, a critical raw material for chips, weapons, batteries, and space research. The town of Pezinok and the Environment Ministry oppose the project and accuse each other of inaction. The Economy Ministry has drafted an amendment to the Mining Act to simplify the permitting process. ( dennikN.sk )
