Portfolio Composition
RS's Portfolio by sectors.
Top 10 assets held by RS and SSH by book value of equity as at 31 December 2023
Table: Top 10 assets held by RS and SSH by book value of equity as at 31 December 2023
|
Capital asset |
Pillar |
Ownership stake of RS+SSH as at 31 Dec. 2023 |
Book value of shareholdings as at 31 Dec. 2023 (EUR) * (million EUR) |
Proportion in total portfolio |
|---|---|---|---|---|
|
DARS, D. D. |
TRANSPORT |
100,00 % |
3.334 |
27,3 % |
| GEN ENERGIJA, D. O. O. | ENERGY SECTOR | 100,00 % | 1.227 | 10,0 % |
|
HSE, D. O. O. |
ENERGY SECTOR |
100,00 % |
1.173 |
9,6 % |
|
SLOVENSKE ŽELEZNICE, D. O. O. |
TRANSPORT |
100,00 % |
864 |
7,1 % |
| NLB, D. D. | FINANCIAL SECTOR | 25,00 % | 737 | 6,0 % |
| ZAVAROVALNICA TRIGLAV, D. D. | FINANCIAL SECTOR | 62.57 % | 558 | 4,6 % |
|
SID BANKA, D. D. |
FINANCIAL SECTOR |
99.41 % |
482 |
3,9 % |
| TELEKOM SLOVENIJE, D. D. | ECONOMY | 66.80 % |
440 |
3,6 % |
| KRKA, D. D. | ECONOMY | 16.21 % | 354 | 2,9 % |
| POŠTA SLOVENIJE, D. D. | TRANSPORT | 100,00 % |
351 |
2,9 % |
|
TOTAL TOP 10 |
|
|
9.519 |
77,9 % |
| Other | 2.713 | 22,2 % | ||
| TOTAL PORTFOLIO | 12.232 | 100,00 % |
The book value of capital assets under management increased during 2023, reaching EUR 12.2 billion by the end of the year (compared to EUR 11.2 billion at the end of 2022). This rise is predominantly attributed to the growth in company capital driven by strong business performance, as well as higher reported capital in insurance companies following the introduction of new accounting standards.
The concentration of assets in the portfolio remains high, with the ten largest companies comprising almost 77.8% and the twenty largest portfolio companies representing over 94% of the total value of assets under management. The largest portfolio company, DARS, alone accounts for 27.3% of the portfolio’s value.
Composition of the portfolio under management as at 31 December 2023– by pillars (industries)
The majority of capital assets are concentrated in the Transport and Energy pillars, which together account for over 71%. The composition of capital assets by pillar did not change significantly in 2023. The Transport pillar saw the largest reduction, while the Finance pillar increased its share. Similarly, there were no significant changes in the structure by classification or listing.