March 22 (SeeNews) - Slovenian drug maker Krka [LJE:KRKG] said on Thursday its 2017 consolidated net profit jumped 41% on the year to 152.6 million euro ($188 million), on the back of the highest annual sales in its history.
The company generated record consolidated sales revenue of 1.27 billion euro last year, up 8% from 2016, Krka said in a filing with the Ljubljana bourse.
Over the past five years, average sales growth reached 5.5% in terms of volume, and 2.1% in terms of value.
In 2017, sales in markets outside Slovenia represented 1.18 billion euro, accounting for 93% of total sales.
The largest sales region was East Europe, where sales totalled 388.2 million euro, which is 30.7% of overall sales and represents a year-on-year increase by 17%.
The Russian Federation remains Krka's key and largest individual market, with sales value growing 20% in 2017 to 270.9 million euro.
The second largest region was Central Europe, where sales value totalled 303.6 million euro, up 6% compared to 2016, representing a 24% of overall Group sales. The third region in terms of sales value was West Europe, where Krka Group generated 22.6% of overall sales. Sales revenues there totalled 286.1 million euro, up 1% on the year.
In the markets of Southeast Europe, product sales amounted to 160.9 million euro, an increase by 6% compared to the same period last year, representing 12.7% of overall Krka Group sales. In Romania, the largest market in this region, product sales were 54.2 million euro, which is at the 2016 level. Sales increased in all markets of this region, apart from Romania and Bosnia and Herzegovina.
In Slovenia Krka sold 88.0 million euro worth of products and services, up 3% and representing 6.9% of overall Group sales, while on overseas markets it sold 39.5 million euro, up 11%.
Operating profit (EBIT) of the Krka Group totalled 198.7 million euro, up 62% compared to 2016, while EBITDA climbed 34% to 306.6 million euro.
In 2017, the Krka Group allocated 105.1 million euro to investments, primarily in increasing and modernising its production capacities.
At the end of 2017, the Krka Group had 10,832 employees, of which 5,134 (47.4%) worked in Slovenia and 5,698 (52.6%) abroad.
In 2018, Krka Group sales are planned to total 1.3 billion euro with profit of 153 million euro.
($=0.8117 euro)