Croatia’s Podravka boosts cons net profit in 2023

Normalised operating profit before depreciation and amortisation (EBITDA) amounted to 91.9 million euro and is 8.6 million euro higher than in 2022, Podravka said in a consolidated unaudited report to the Zagreb bourse.

The increase in normalised operating profit before depreciation and amortisation (EBITDA) was achieved despite a 3.2% increase in prices of raw materials, packaging and energy, it added.

In 2023, the Podravka group recorded a sales revenue of 713.8 million euro, up 7.0%, on the year.

The revenue of its food segment increased 6.0% to 553.6 million euro, while the pharmaceuticals segment generated a revenue of 160.2 million euro, up 10.5% compared to 2022.

In 2024, the Podravka group expected capital expenditures of almost 100 million euro.

Shares of the parent company of the group, Podravka d.d., traded 1.85% lower at 159 euro by 1334 local time on Wednesday on the Zagreb bourse.

($ = 0.925 euro)