September 11 (SeeNews) - Agriculture companies within Croatia's ailing Agrokor concern posted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 88.0 million kuna ($13.7 million/11.9 million euro) in the first seven months of 2018, below the planned amount of 156.2 million kuna, Agrokor said on Tuesday.
The revenue of the agricultural segment totalled 1.193 billion kuna in the seven months through July, 9.1% lower than budgeted, the concern said in an interim financial statement.
Food company Belje [ZSE:BLJE-R-A] recorded revenue of 692 million kuna, lower than the planned 769 million kuna, mainly because the prices of finishers and semi-hard cheese were significantly below the budgeted sales prices. Belje's EBITDA totalled 67.4 million kuna, with a margin of 9.7%.
The revenue of meat processing company PIK-Vinkovci [ZSE:PIVK-R-A] came in at 370 million kuna, below the planned 385 million kuna. The company's EBITDA amounted to 11.4 million kuna, with a margin of 3.1%.
Agricultural conglomerate Vupik [ZSE:VPIK-R-A] saw revenue of 131 million kuna in the first seven months of 2018, below the budgeted amount of 159 million kuna. EBITDA through July totalled 9.3 million kuna, with a margin of 5.7%, and was lower than planned due to the low market value of finishers.
(1 euro =7.42039 kuna)