A Kresimirian industrial group
Steel, agriculture, logistics and banking.
Maj Holdings is a private conglomerate founded in Polograd in 1948, concentrated in eastern agro-trade, Novi Otonik metallurgy, lake freight, manufacturing and retail.
₭129.8bnRevenue, 2022
85,000Employees
6Operating divisions
10Districts served
At a glance
| Founded | 1948, as Pologradska Agro-Trade |
| Renamed | 1995, as Maj Holdings |
| Headquarters | Maj Tower, Polograd, District III |
| Chairman | Bran Maj |
| Ownership | Private, family-held. Wholly owned subsidiaries. |
| Industries | Heavy industry, agriculture, logistics, manufacturing, retail, banking |
| Trade licence | Level 1, Bank of Zvonomir (foreign-currency settlement) |
Our businesses
| Division | Activity | Since | Headquarters |
|---|---|---|---|
| Maj Steel | Iron and steel, primary rolling | 1986 | Novi Otonik, District II |
| Vokamet | Steel, pig iron and rolling | 1993 | Cetingrad, District VIII |
| Maj Logistics | Road and lake freight | 1995 | Polograd, District III |
| Maj Manufacturing | Consumer and industrial goods | 1995 | Polograd, District III |
| Kasa24 | Convenience retail, 600+ stores | 2008 | Polograd, District III |
| Prosperity Trust Bank | Banking and payments | 2009 | Maj Tower, Polograd |
Pologradska Agro-Trade, the group's founding agricultural business, continues to trade under the Maj Holdings name in eastern grain and agricultural logistics.
Latest news
- Maj Steel commissions a second rolling line at Novi OtonikAnnual primary capacity rises by 1.4 million tonnes. Production begins in the fourth quarter.
- Maj Logistics orders 400 heavy vehiclesThe order covers the eastern corridor and the Cetingrad lake route over three years.
- Vokamet signs ten-year power agreement on the Kambel cascadeAlandir hydroelectric supply for the Cetingrad yards, replacing coal-fired generation on site.
- Prosperity Trust Bank reports assets of ₭39.5 billionThe bank handles the payroll of the Maj Holdings workforce and the Kasa24 retail network.
- Kasa24 opens its 700th storeThe chain now trades in all ten districts.
Financial highlights
| Metric | 2020 | 2021 | 2022 |
|---|---|---|---|
| Revenue | ₭104.2bn | ₭117.6bn | ₭129.8bn |
| Operating profit | ₭9.8bn | ₭11.4bn | ₭13.1bn |
| Employees | 78,000 | 82,000 | 85,000 |
Figures are group estimates prepared for the 2022 annual review, stated in krejt at constant prices.
Prosperity Trust Bank
Banking for the group, and for its workforce.
Founded in 2009 to finance the group independently, PTB holds ₭39.5 billion in assets and serves the industrial districts of the north and west.
Businesses
Maj Holdings operates six divisions. Each is a wholly owned subsidiary; strategic finance, export pricing and capital allocation are decided at Maj Tower.
| Division | Activity | Formed | Headquarters | Staff |
|---|---|---|---|---|
| Maj Steel | Iron and steel, primary rolling for construction and munitions | 1986 | Novi Otonik, District II | 24,000 |
| Vokamet | Steel, pig iron and rolling; lake export | 1993 | Cetingrad, District VIII | 18,000 |
| Maj Logistics | Road and lake freight; fleet management | 1995 | Polograd, District III | 21,000 |
| Maj Manufacturing | Consumer and industrial goods; packaging | 1995 | Polograd, District III | 11,000 |
| Kasa24 | Convenience retail; 600+ stores in ten districts | 2008 | Polograd, District III | 9,000 |
| Prosperity Trust Bank | Banking, payroll and payments | 2009 | Maj Tower, Polograd | 2,000 |
Maj Steel and Vokamet together account for the majority of the group's private steel output. Vokamet is managed locally from the Foundry District; day-to-day leadership is not resident at Polograd.
Selected transactions
| Year | Transaction | Value | Note |
|---|---|---|---|
| 2024 | Kambel cascade power agreement | n/d | Ten-year hydroelectric supply for Vokamet |
| 2023 | Acquisition of Dunav Packaging | ₭420m | Folded into Maj Manufacturing |
| 2009 | Founding of Prosperity Trust Bank | ₭2.1bn | Capitalised from logistics reserves |
| 2008 | Acquisition of Kasa24 | ₭1.5bn | From the Srbljic family |
| 2004 | Acquisition of Ravna Skrad Grains | n/d | Grain handling and storage |
| 1993 | Privatisation of the Vokavovic Iron & Steel Combine | n/d | Formed Vokamet |
| 1986 | Entry into Novi Otonik heavy industry | n/d | Founding of Maj Steel |
n/d: not disclosed. Maj Holdings is a private company and does not publish transaction values except where required by the Council for Development.
Revenue by division, 2022
| Division | Revenue | Share |
|---|---|---|
| Metals (Maj Steel, Vokamet) | ₭59.7bn | 46.0% |
| Retail (Kasa24) | ₭27.3bn | 21.0% |
| Logistics | ₭19.5bn | 15.0% |
| Agriculture | ₭13.0bn | 10.0% |
| Banking (PTB) | ₭10.3bn | 8.0% |
| Group | ₭129.8bn | 100% |
Newsroom
Press releases and company statements. For media enquiries, contact the Maj Tower press office.
- Maj Steel commissions a second rolling line at Novi OtonikAnnual primary capacity rises by 1.4 million tonnes. Production begins in the fourth quarter.
- Maj Logistics orders 400 heavy vehiclesThe order covers the eastern corridor and the Cetingrad lake route over three years.
- Vokamet signs ten-year power agreement on the Kambel cascadeAlandir hydroelectric supply for the Cetingrad yards, replacing coal-fired generation on site.
- Prosperity Trust Bank reports assets of ₭39.5 billionThe bank handles the payroll of the Maj Holdings workforce and the Kasa24 retail network.
- Kasa24 opens its 700th storeThe chain now trades in all ten districts.
- Maj Holdings reports revenue of ₭129.8 billion for 2022Operating profit of ₭13.1 billion. Group headcount of 85,000.
- Maj Manufacturing acquires Dunav Packaging₭420 million. The business is folded into the group's manufacturing division.
- Superior Tribunal rules for Maj Holdings in the Iron Triangle caseThe Tribunal found the group's commercial practices lawful, if aggressive.
- District II Court dismisses YakaSys claimThe court declined to hear the group's challenge to software licensing fees.
- Prosperity Trust Bank opensA private bank for the group, its workforce and the industrial districts.
Legal and regulatory
| Company status | Private. Not listed on any exchange. No offer of securities is made on this website. |
| Trade licence | Level 1, Bank of Zvonomir. Foreign-currency settlement and reserves. |
| Iron Triangle suit, 2017 | Resolved in the group's favour. Practices found aggressive but lawful. |
| PTB derivative licence, 2017 | Suspended for six months by the Bank of Zvonomir; restored 2018. |
| Regulator | Council for Development; Council for Growth and Agriculture (financial reporting). |
Contact
| Head office | Maj Tower, Polograd, District III, Divine Republic of Kresimiria |
| Press office | Maj Tower, Polograd. Enquiries are answered within five working days. |
| Investor relations | The group does not report publicly. Requests from the Council for Development are handled by the office of the chairman. |