November 13 (SeeNews) - Agriculture companies within Croatia's ailing Agrokor concern posted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 139.1 million kuna ($21.1 million/18.7 million euro) in the first nine months of 2018, below the planned amount of 196.5 million kuna, Agrokor said on Tuesday.
The revenue of the agricultural segment totalled 1.595 billion kuna in the nine months through September, 12% lower than budgeted, the concern said in an interim financial statement.
Food company Belje [ZSE:BLJE-R-A] recorded revenue of 913 million kuna, lower than the planned 1.03 billion kuna. Belje's EBITDA totalled 109.9 million kuna, with a margin of 12%.
The revenue of meat processing company PIK-Vinkovci [ZSE:PIVK-R-A] came in at 493 million kuna, below the planned 546 million kuna. The company's EBITDA amounted to 14.6 million kuna, with a margin of 3%.
Agricultural conglomerate Vupik [ZSE:VPIK-R-A] saw revenue of 189 million kuna in the first nine months of 2018, below the budgeted amount of 237 million kuna. EBITDA through September totalled 14.6 million kuna, with a margin of 7.8%, and was lower than planned due to the low market value of finishers.
(1 euro = 7.42234 kuna)