July 11 (SeeNews) - Agriculture companies in Croatia's ailing Agrokor concern posted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 103.1 million kuna ($16.3 million/13.9 million euro) in the first five months of 2018, Agrokor said on Wednesday.
The revenue of the segment totalled 853 million kuna in the five months through May, 4.7% lower than budgeted, the concern said in a statement on its website.
Agrokor's Belje saw revenue of 469 million kuna, lower than budgeted, mainly due to the prices of finishers and semi-hard cheese which were significantly below budgeted sales prices.
Belje EBITDA totalled 47 million kuna, with a margin of 10%.
PIK Vinkovci recorded a revenue of 254 million kuna, exceeding budget by 4.1%. Its EBITDA was at 11.9 million kuna with a margin of 4.7%.
Agrokor's Vupik saw a revenue of 90 million kuna in the first five months of 2018, slightly below the budgeted amount of 94 million kuna, mostly due to the drop in prices of finishers and the abandonment of the contract farming business.
EBITDA through May came in at 5.8 million kuna, with a margin of 6.5%, and was lower than budgeted due to the low market value of finishers.
(1 euro = 7.39657 kuna)