News
Government of the Republic of Slovenia Grants its Consent to Annual Assets Management Plan for 2026
At its session held on 5 February 2026, the Government of the Republic of Slovenia granted its consent to the Annual Asset Management Plan for 2026 (AAMP 2026), which constitutes the core framework for the performance of the management tasks of Slovenian Sovereign Holding (SSH) in 2026.
With the aim of achieving the objectives of the State Assets Management Strategy and strengthening the long-term value of state assets, SSH will place particular emphasis on five management priorities in the year ahead. These are: (1) risk management and resilience strengthening; (2) the introduction of generative artificial intelligence tools into business models; (3) talent management and the development of employee competences; (4) the management of climate-related risks and the advancement of sustainable business operations; and (5) strengthening the quality of corporate governance and integrity.
In 2026, SSH’s project activities in the management of capital assets will be focused on the following key projects:
- participation in the restructuring processes of larger companies operating in cyclical industries and facing business and financial difficulties due to challenging market conditions;
- commencement of full operations of Dovos, d. o. o.;
- examination, establishment and launch of a new water company;
- examination of the possibility of acquiring an equity stake in Ljubljana Stock Exchange, d. d., or alternative options for ensuring the provision of stock exchange services in the Republic of Slovenia – at the initiative of the Ministry of Finance;
- examination of the feasibility of establishing a Slovenian shipping company – at the initiative of the Ministry of Infrastructure;
- examination of opportunities for state investments in agricultural production, the food-processing industry, and the establishment of sustainable and regional supply chains – at the initiative of the Ministry of Agriculture, Forestry and Food; and
- participation in the coordination of activities related to the planned transformation of the Savinja–Šalek region, the closure of the Velenje Coal Mine, and the development of the energy site of the Šoštanj Thermal Power Plant.
In the management of claims, SSH will pursue the objective of achieving the fastest possible repayment, sale or restructuring of claims in order to maximise their value, while at the same time reducing the costs of managing the claims portfolio. In the management of tangible assets, SSH will pursue the objective of generating the highest possible value for SSH.
In 2026, SSH plans a return on equity (ROE) of 6.7%, which is moderately lower than in 2025 (the estimated ROE for 2025 amounts to 8.6%, compared with a planned level of 7.1%). The lower planned ROE primarily reflects reduced profitability in the energy sector, driven by the expected decline in market electricity prices and somewhat less favourable hydrological conditions.
According to the plan, the total amount of dividends to be received in 2026 from capital assets owned by the State, SSH and the Pension and Disability Insurance Institute of Slovenia (ZPIZ) is projected to reach approximately EUR 450 million, which is slightly below the level recorded in 2025 (dividends realised in 2025 amounted to EUR 512 million, compared with a planned level of EUR 461.1 million). As in the case of ROE, the planned decrease in dividend income is primarily attributable to lower expected dividend distributions from energy companies.