April 27 (SeeNews) - Croatia's ailing concern Agrokor said on Friday the group's EBITDA fell 35% year-on-year to 665 million kuna ($108.3 million/89.6 million euro) in 2017.
The operating income of the Agrokor Group dropped 12% on the year to 39.5 billion kuna in 2017, the food-to-retail concern said in an annual financial report published on its website.
The group's total assets decreased to 35.39 billion kuna in 2017, down 15% on 2016, while total liabilities remained unchanged at 56.15 billion kuna.
EBITDA of the concern's retail sector rose to 446 million kuna last year, from 376 million kuna a year earlier, while EBITDA of the food segment edged up to 1.18 billion kuna from 1.10 billion kuna in 2016. EBITDA of the agriculture sector dropped to 210 million kuna, from 233 million kuna.
The concern estiamted its 2017 result as solid, given the difficult operational circumstances.
Agrokor, which employs some 60,000 people in the region, has been in financial turmoil since January last year.
In April, a process of restructuring of the concern under crisis administration was launched according to a law on managing distressed companies, which are of systemic importance for Croatia's economy, commonly known as Lex Agrokor.
(1 euro=7.42387 kuna)