ZAGREB (Croatia), January 30 (SeeNews) – Croatia's Djuro Djakovic Group [ZSE:DDJH-R-A] said on Tuesday its consolidated net loss narrowed to 27.1 million kuna ($4.5 million/3.7 million euro) in 2017, from 35.0 million kuna a year earlier.
"Reasons for the net loss include losses by the company Djuro Djakovic Industrial Solutions d.d., exceptionally high financial expenses and losses incurred by Djuro Djakovic Specijalna vozila d.d. in the production of Uacns wagons," Djuro Djakovic said in a filing with the Zagreb bourse.
The company's total consolidated revenues fell 6.5% on the year to 547.3 million kuna, while costs amounted to 573.5 million kuna, down from 620.0 million kuna in 2016.
Djuro's earnings before interest, depreciation, taxes and amortization (EBIDTA) amounted to a consolidated 14.4 million kuna, up 8.5 million kuna from last year.
The company is still undergoing restructuring, which began in 2014, and hopes to meet the criteria for recapitalisation this year, it noted.
The main lines of business of the Djuro Djakovic conglomerate are the manufacturing of equipment for steelworks, industrial and power plants and the production of rolling stock and special-purpose motor vehicles.
(1 euro=7.4171 kuna)