May 14 (SeeNews) - Food companies in Croatia's ailing Agrokor concern recorded positive earnings before interest, taxes, depreciation and amortisation (EBITDA) of 136.5 million kuna ($22.1 million/18.5 million euro) in the first quarter of the year, with an EBITDA margin of 9.2%, the concern said on Monday.
The companies' total revenue reached 1.5 billion kuna through March, slightly below the budgeted figure, Agrokor said in a statement on its website.
Due to the unusually unfavourable weather conditions the drinks segment generated sales revenues below budget while operating profits, as a result of the implementation of operating efficiency improvement measures, were higher than planned, Agrokor explained.
Additionally, the frozen food and ice cream segment, despite an increase in sales of frozen food, was unable to offset the negative impact of the delayed opening of a significant number of out-of-home impulse ice cream points of sale, which resulted in actual EBITDA being lower than budgeted.
Operating profits in the oil segment exceeded budget, despite the drop in sales revenues as a result of the significantly lower sunflower oil price on certain markets.
Details on Agrokor's food segment follow (in mlns of kuna):
|
Revenue Q1 |
EBITDA Q1 |
EBITDA margina in % Q1 |
Jamnica |
206 |
33.6 |
16.3 |
Roto dinamic |
139 |
2.4 |
1.7 |
Sarajevski kiseljak |
64 |
13.1 |
20.7 |
Ledo |
179 |
14.6 |
8.2 |
Ledo Citluk |
52 |
3.8 |
7.2 |
Frikom |
122 |
9.6 |
7.8 |
Zvijezda |
169 |
18.0 |
10.6 |
Dijamant |
179 |
9.1 |
5.1 |
PIK Vrbovec |
377 |
32.2 |
8.6 |
(1 euro=7.38659 kuna)