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Slovak companies of Andrej Babiš have sales of €830m and net profits of €15m

The European Commission has recently paused subsidies to all companies of Czech PM Andrej Babiš and proposed Babiš to sell the companies. In Slovakia, his firms have annual sales of €830m and net profits of €15m. The smallest and least profitable part of the Slovak Babiš’ empire is food companies (Hyza, Penam and Šarišské pekárne a cukrárne). Larger and more profitable is agri-business, mainly grain and oil seeds buyers that also supply farmers with fertilizer, seeds, and chemistry. He also controls farms that cultivate 20,000 ha of land. His most profitable Slovak business is fertilizer maker Duslo Šala. Since 2013, his companies obtained investment EU funds totaling €2.3m. His farms receive direct subsidies totaling €4.5m annually.

Táto správa je z Ekonomiky DNES, denného prehľadu najdôležitejších ekonomických správ zo Slovenska.

This news is from the Slovak Business News TODAY, one-page summary of all the important Slovak business news.

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