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Croatia's M San grows pre-tax profit 377% y/y in H1

Author Annie Tsoneva
Croatia's M San grows pre-tax profit 377% y/y in H1 Photo: Croatia's FINA

ZAGREB (Croatia), September 28 (SeeNews) - Croatian IT equipment and consumer electronics distributor and producer M San Grupa increased its consolidated pre-tax profit 377.3% year-on-year in the first half of 2021, to 33.4 million kuna ($5.2 million/4.5 million euro), it said on Tuesday.

Operating revenue rose 16.4% on the year to 1.263 billion kuna, while operating costs increased 20.6% to 972.6 million kuna in the first six months of 2021, the company said in a filing to the Zagreb bourse.

EBITDA went up 136.7% to 51.4 million kuna, while EBIT surged 175.8% on the year to 45.3 million kuna in the period under review.

M San Grupa issued its debut corporate bond [ZSE:3MSA] in the second half of July, raising 200 million kuna. It used the bulk of the proceeds from it, 120.6 million kuna to repay loans to banks and the rest will be used for investments in business development, to keep on its digitalisation process and to support organic growth.

The bond matures in 2026 and is listed on the Zagreb bourse.

M San Grupa also includes an integrator and software developer division, an e-commerce arm, online financial services division, a farming unit and a real estate arm. It had more than 600 employees at the end of last year.

(1 euro = 7.505 Croatian kuna)

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