March 2 (SeeNews) - Croatian distributor of car parts and accessories CIAK Grupa [ZSE:CIAK] said its consolidated gross profit dropped 30% on the year to 7.7 million kuna ($1.1 million/1.0 million euro) in 2022 due to higher input prices.
“The gross profit without one-off items generated in 2022 is 1% higher compared to the previous year, which confirms business continuity and the sustainable level of profitability despite the volatile external environment and the general increase of inputs,” the company said in a filling to the Zagreb bourse earlier this week.
At the same time, the average lead price was 3% lower, said the company whose business includes waste metal management and recycling.
Sales revenues amounted to 1.706 billion kuna in 2022, up 27% on the year.
Consolidated reported EBITDA without one-off items came in at 141.9 million kuna, representing an annual increase of 20%.
Capital investments totalled around 70 million kuna and were at the level of the previous year, which confirms the continuity of investments in the further development of CIAK Group, it added.
CIAK Group had 2,350 employees in six countries last year, up 10% on 2021.
The company’s shares last traded on the Zagreb bourse on Wednesday, when they closed 6.06% higher at 7 euro.
($ = 0.943 euro)