August 13 (SeeNews) - Agriculture companies within Croatia's ailing Agrokor concern posted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 74.6 million kuna ($11.4 million/10.0 million euro) in the first half of 2018, below the planned 135.8 million kuna, Agrokor said on Monday.
The revenue of the segment totalled 991 million kuna in the six months through June, 8.4% lower than budgeted, the concern said in an interim financial statement.
Agrokor's Belje saw revenue of 572 million kuna, lower than the budgeted 642 million kuna, mainly due to the prices of finishers and semi-hard cheese which were significantly below the budgeted sales prices. Belje EBITDA totalled 56.3 million kuna, with a margin of 9.9%.
PIK Vinkovci recorded a revenue of 313 million kuna, below the budgeted 314 million kuna. Its EBITDA amounted to 11.3 million kuna, with a margin of 3.6%.
Agrokor's Vupik saw a revenue of 106 million kuna in the first six months of 2018, below the budgeted amount of 126 million kuna. EBITDA through June came in at 6.9 million kuna, with a margin of 6.6%, and was lower than planned due to the low market value of finishers.
(1 euro =7.42724 kuna)