Croatia's CIAK Q1 net profit falls 25%

Consolidated EBITDA without one-off items in the first quarter of 2024 amounts to 5.5 million euro and is 12% higher compared to the same period previous year, primarily because of higher revenues, continued optimization of procurement processes, and management of operating expenditures, the company said on Friday.

However, the first-quarter results were negatively affected by 222,000 one-off staff costs, it added.

Sales revenue grew 16% on the year to 71.5 million euro.

Operating costs also increased 16% to 69.5 million euro in the review period.

Capital investments rose 16% on the year to 3.3 million euro.

CIAK's main line of business is the distribution of car parts, car batteries and motor oils; waste management and recycling; and wholesale.

Its shares last traded on the Zagreb bourse on April 23, closing flat at 6.80 euro.

($ = 0.933 euro)