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Croatia's JGL posts all-time high pre-tax profit in 2021

Author Annie Tsoneva
Croatia's JGL posts all-time high pre-tax profit in 2021 JGL Pharma Valley. Author: JGL. License: All rights reserved.

ZAGREB (Croatia), March 8 (SeeNews) - Croatian pharmaceuticals producer Jadran Galenski Laboratorij (JGL) [ZSE:JDGL-O-166A, JDGL-O-126A] posted an all-time high consolidated after-tax profit of 105.7 million kuna ($15 million/14 million euro) last year, it said on Tuesday.

The JGL's total revenue amounted to almost 1.1 billion kuna in 2021, as the revenue of its pharmaceuticals division rose 8.7% on the year to 892 million kuna, the company said in a statement, quoting final consolidated unaudited figures.

It did not provide comparative figures but according to its annual financial statement for 2020, the group reported a consolidated pre-tax profit of 70.4 million kuna on a total revenue of 1.020 billion kuna for 2020.

The pharmaceuticals producer said on Monday that the Russian invasion of Ukraine has put on hold its business on the key Ukrainian market on which the company recorded sales of 13 million euro ($14 million) in 2021. In Russia JGL is currently operating without difficulties, but the exposure to currency risk, due to the fall in the value of the Russian rouble, is becoming increasingly significant, the company said in a filing to the Zagreb bourse.

JGL operates in some 60 markets around the world. The company's corporate bonds are traded on the Zagreb Stock Exchange.

(1 euro = 7.569 kuna)

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