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Slovenian drug maker Krka's H1 cons net profit rises 37%

Slovenian drug maker Krka's H1 cons net profit rises 37% Source: Krka

LJUBLJANA (Slovenia), July 4 (SeeNews) – Slovenian pharmaceuticals producer Krka [LJE:KRKG] said on Thursday its consolidated net profit rose 37% year-on-year in the first half of 2019, reaching 139.9 million euro ($157.9 million)

Krka's consolidated sales increased 12% on the year to a record 761.8 million euro in the six months through June, the company said in a filing with the Ljubljana Stock Exchange.

In terms of volume, first-half sales increased 4%, with all sales regions recording a rise. Sales in markets outside Slovenia totalled 714.7 million euro and represented 94% of Krka Group's total sales.

The group's largest sales region was Eastern Europe, with a 33.1% share in total sales. The sales there reached 251.5 million euro in the first half of 2019, up 15%.

Russia remained Krka’s largest individual market. First-half product sales there amounted to 166.8 million euro, up 9% over the same period last year.

Krka's second largest region was Western Europe, where sales expanded 17% to 170.6 million euro or 22.5% of total group sales. The highest growth rates were recorded in the Scandinavian countries, Spain, the UK and Portugal. In Germany, the largest market in the region, Krka sold 40.6 million euro worth of products, recording a 5% year-on-year increase.

Sales in Central Europe totalled 169.6 million euro, accounting for a 22.5% share of the Krka Group sales, up 5% compared to the same period last year. In Poland, the largest market in the region, Krka sold 79.5 million euro worth of products, up 6% year-on-year.

In South-East Europe, product sales rose 11% on the year to 98.5 million euro, constituting 13% of Krka Group total sales. The highest growth was recorded in Bulgaria, Serbia and Romania.

In Slovenia, sales grew by 4% to 45.0 million euro, constituting a 5.9% share of total sales.

Product sales on Overseas Markets amounted to 24.6 million euro (up 13%), accounting for 3.2% of total group sales.

In the first half, the Krka Group allocated 49 million euro to investments, of which the controlling company invested 39 million euro.

At the end of June, the group employed 11,523 people, up 1% compared to the beginning of the year.

($=0.88603 euro)

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