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Dec 13, 2017 13:43 EEST
December 13 (SeeNews) - All but one of the listed units of Croatia's ailing concern Agrokor reported positive earnings before interest, taxes, depreciation and amortisation (EBITDA) in the first ten months of 2017, preliminary data filed with the Zagreb bourse shows.
News stand operator Tisak [ZSE:TISK] was the only exception, posting a negative EBITDA of 31 million kuna ($4.8 million/4.1 million euro), with a negative EBITDA margin of 1.8%, according to its preliminary results submitted to the Zagreb Stock Exchange (ZSE) on Wednesday.
Tisak, however, saw the largest revenue among Agrokor's listed units, of 1.721 billion kuna in the ten months through October. The company's gross margin stood at 21.1%.
Another listed Agrokor unit, wholesaler Zitnjak [ZSE:ZTNJ], is yet to report its ten-month results.
Soft drinks and water bottling company Jamnica [ZSE:JMNC] posted the largest EBITDA - of 285 million kuna with a margin of 24.8%. Its revenue reached an estimated 1.149 billion kuna, while its gross margin stood at 53.7%.
Ice cream and frozen food company Ledo [ZSE:LEDO] followed with an estimated EBITDA of 207 million kuna and a margin of 21.8%. Its reported ten-month revenue totalled 949 million kuna, while its gross margin reached 44.1%.
Food company Belje [ZSE:BLJE] reported EBITDA of 168 million kuna and a margin of 15.8%. Its revenue came in at 1.063 billion kuna, with a gross margin of 33.6%.
Agricultural conglomerate Vupik [ZSE:VPIK] reported an estimated EBITDA of 56 million kuna with a 20.8% margin, and a gross margin of 36.9%. Revenues totalled 270 million kuna and were the lowest among the listed companies.
Edible oil, mayonnaise and margarine producer Zvijezda [ZSE:ZVZD] reported EBITDA of 49 milion kuna with a margin of 8.9%. Its revenue totalled 549 million kuna in January-October, while the gross margin was an estimated 27.7%.
Meat processing company PIK-Vinkovci [ZSE:PIVK] posted EBITDA of 29 million kuna, with an 10% margin, and a gross margin of 34.5%. Its revenue was 290 million kuna in the ten months through October.
When compared to the previous months results, for the nine-month period, Ledo was the only company to see a drop in EBITDA, by 2 million kuna.
(1 euro=7.55111 kuna)
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