The merger was carried out with aim of direct consolidation of operations, which will further strengthen the balance sheet assets and operations of the acquiring company. This enables a simpler organizational structure within one company, reduction of administrative costs and costs of support functions and improvement of human resources management.

Further to merger process, the Supervisory Board of company NEXE d.d. at its session held at the end of June reached a decision by which, as of 1 July 2021 the Management Board of NEXE d.d. is composed of Ivan Ergović (President of the Board), Stjepan Ergović (Deputy President of the Board), Josip Ergović, Ivan Ergović, Dražen Ivezić and Ivana Čehulić.

„NEXE business system focuses its activties on technology implementation projects and/or process improvements that will ultimately result in further reduction of carbon emissions, increase in the share of alternative fuels, increase in energy efficiency of our factories but also in general improvement of business process at all levels", announces during the merger the President of the Management Board Ivan Ergović.

One of examples of business process improvements is new organization of sales, which from June this year has been organized as channel sales where one sales representative is responsible for all NEXE products, what has greatly simplifed the sales organization aimed at even greater focus on customers, strengthening of NEXE brand, faster reaction and adjustments to changes on the market. In order to continuously improve the NEXE system, a logistics improvement project that will standardize and centralize all logistic processes is underway.

In 2020 consolidated sales revenue increased by 7.08% compared to 2019 and the growth trend of total operating revenue continued, which is 7.05% higher compared to 2019. Realized EBITDA recorded an increase of 35.22% compared to realized EBITDA in 2019. One of prerequisites for such business results were continued investments, which in 2020 amounted to HRK 115 million.