Croatia’s Cakovecki Mlinovi Group boosts net profit in H1

Normalized profit before interest, taxes and depreciation (EBITDA) reached 5.3 million euro, up 39.8% compared to the first half of 2022, Cakovecki Mlinovi said in a filing to the Zagreb bourse.

Normalized EBITDA margin grew to 6.1% from 4.6%.

Sales revenue wet up 4.9% on the year to 87.5 million euro in the first half of 2023.

The Cakovecki Mlinovi group has two strategic business segments: trade, which includes retail and wholesale trade of food and non-food assortment; and food, which includes the production of flour, bakery products and cooking oils.

At the end of June, its trade unit operated 438 stores located in northwestern Croatia, Kvarner and the island of Krk.

The group had 2,319 employees at the end of June.

Cakovecki Mlinovi’s shares traded 1.98% higher at 10.30 euro intraday on Tuesday.

($ = 0.907 euro)