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Croatia's Agrokor agri segment 8-mo EBITDA stays well below plan

Author Radomir Ralev
Croatia's Agrokor agri segment 8-mo EBITDA stays well below plan Author: Agrokor. License: All rights reserved.

ZAGREB (Croatia), October 11 (SeeNews) - Agriculture companies within Croatia's ailing Agrokor concern posted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 107.6 million kuna ($16.8 million/14.5 million euro) in the first eight months of 2018, below the planned amount of 176.1 million kuna, Agrokor said on Thursday.

The revenue of the agricultural segment totalled 1.389 billion kuna in the eight months through August, 10.8% lower than budgeted, the concern said in an interim financial statement.

Food company Belje [ZSE:BLJE-R-A] recorded revenue of 908 million kuna, higher than the planned 813 million kuna. Belje's EBITDA totalled 82.3 million kuna, with a margin of 9.06%.

The revenue of meat processing company PIK-Vinkovci [ZSE:PIVK-R-A] came in at 416 million kuna, below the planned 464 million kuna. The company's EBITDA amounted to 13.7 million kuna, with a margin of 3.3%.

Agricultural conglomerate Vupik [ZSE:VPIK-R-A] saw revenue of 160 million kuna in the first eight months of 2018, below the budgeted amount of 186 million kuna. EBITDA through August totalled 11.6 million kuna, with a margin of 7.2%, and was lower than planned due to the low market value of finishers.

(1 euro = 7.40971 kuna)

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