News
Publication of Annual Report of SSH and SSH Group for 2024
Performance of SSH in 2024 – Record Net Profit in the Company’s History
Slovenian Sovereign Holding (SSH) celebrated its tenth anniversary in 2024. The year stood out as one of the most successful to date, as the Company achieved the highest net profit in its history and, despite challenging conditions in the global and domestic economic environment, exceeded all key objectives set out in the SSH’s Asset Management Plan (AAMP) for 2024.
Financial Results and Portfolio Returns
The estimated return on equity (ROE) of the portfolio managed by SSH for 2024 amounted to 9.7%, exceeding the planned target of 6.7% set out in the 2024 Annual Asset Management Plan (AAMP), while net profit reached EUR 83.6 million. SSH allocated the entire 2023 balance sheet profit of EUR 78.9 million to the dedicated fund for post-flood and landslide reconstruction. The total book value of capital assets under SSH’s management stood at EUR 13 billion at the end of 2024, up EUR 0.8 billion from year-end 2023. The fair value of financial claims under management fell significantly to EUR 156.4 million at year-end 2024, down from EUR 203.5 million a year earlier. The book value of tangible assets declined to EUR 4.7 million, following the transfer of real estate management activities to D.S.U., having stood at EUR 94.3 million at the end of 2023.
Dividend Policy
The implementation of an appropriate dividend policy remains one of the core activities in the management of capital assets. In 2024, total dividends received from companies under SSH’s management, amounted to EUR 487.7 million, of which the Republic of Slovenia received EUR 408.5 million, the Pension and Disability Insurance Institute of Slovenia (ZPIZ) EUR 13.7 million, and SSH EUR 65.5 million. Dividends exceeded the planned amount by EUR 103.8 million, compared with the EUR 383.9 million projected in SSH’s Annual Asset Management Plan for 2024.
Denationalisation
SSH continues to handle complex denationalisation proceedings and consistently fulfils all related obligations. In 2024, compensation payments amounted to EUR 17.3 million, while 154 denationalisation claims remained pending at year-end.
Strategic Challenges and Directions
The year 2024 was marked by tightened economic and political conditions as well as major global trends: geopolitical shifts increasing the risks of economic dependency, and the rapid development of solutions in the field of artificial intelligence. SSH has therefore reshaped its strategic priorities to strengthen the long-term profitability and resilience of portfolio companies, drive business model transformation towards digitalisation, new technologies and the green transition, build competences across all levels, and ensure effective management of climate and cyber risks.
Sustainable Development and Corporate Governance
Beyond the demands of financial markets, sustainability is also shaped by limited natural resources, climate risks and shifting consumer preferences. Companies are embedding it into their business models not only in response to European reporting requirements, but also as a reaction to actual risks and opportunities ahead. SSH takes this into account both in the management of its capital assets and in adapting its own operations. In 2024, SSH issued a voluntary sustainability report, prepared in accordance with the CSRD Directive and ESRS standards, even though it is not yet required to report.
New Corporate Strategy 2025-2030
In March 2025, SSH proactively adopted a new corporate strategy running until 2030, designed to strengthen the performance, productivity and sustainable value of state capital assets, while at the same time advancing its own competences and building a modern organisational structure. The strategy rests on the principles of sustainable development, balancing responsibility for natural resources, people and created assets. It places particular emphasis on fostering an inclusive and supportive working environment and maintaining responsible relations with employees. Through sustainable practices and robust corporate governance, SSH not only ensures the effective and responsible management of capital assets, but also actively contributes to Slovenia’s socio-economic development.
Annual_Report_SSH_Group_2024.pdf ( kB)