Croatian fertiliser maker Petrokemija turns to 9-mo cons net loss

The company said in a bourse filing the loss was mainly due to higher gas prices coupled with lower sales and production.

Total consolidated income amounted to 2.1 billion kuna through September, compared to 2.3 billion kuna in the same period a year earlier. The group’s total expenses amounted to 2.3 billion kuna in the first nine months of the year compared to 2.1 billion kuna a year earlier.

Production fell 18.1% in the first nine months of 2012, largely due to efforts to balance out the dynamics of inventories and market demand.

Actual investment in the first three quarters of 2012 amounted to 40.2 million kuna, up approximately 15.5 million kuna on the year. In the third quarter alone, Petrokemija invested 15.5 million kuna.

(1 euro=7.5396 Croatian kuna)