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UPDATE 1 - Slovenian drug maker Krka's H1 net profit rises 11% y/y

Author Maja Garaca
UPDATE 1 - Slovenian drug maker Krka's H1 net profit rises 11% y/y Source: Krka

LJUBLJANA (Slovenia), July 26 (SeeNews) – Slovenian drug maker Krka [LJE:KRKG] posted a consolidated net profit of 101.7 million euro ($119.3 million) in the first half of 2018, up 11% on the year.

Krka's consolidated sales increased 4% on the year to a record 680.5 million euro in the six months through June, the company said in a filing with the Ljubljana bourse.

In terms of volume, sales were up 6% over the same period last year, with all sales regions recording an increase. Sales in markets outside Slovenia totalled 636.1 million euro and constituted 93% of Krka Group's total sales.

The group's largest sales region was East Europe, with a 32.1% share in total sales. The sales there reached 218.4 million euro in the first half of 2018, up 2%.

In the Russian Federation, the largest single market of Krka, the value of sales, expressed in the local currency, increased by 12%. A total 153.2 euro million worth of products was sold there, which is 2% less than in the same period last year due to the depreciation of the Russian rouble.

Krka's second largest region was Central Europe, where sales expanded 5% to 161.5 million euro or 23.7% of total group sales. In Poland, the largest market in the region, Krka sold 74.7 million euro worth of products, recording a 2% year-on-year increase.

Sales in West Europe totalled 146 million euro, accounting for a 21.5% share of the Krka Group sales, up 2% compared to the same period last year. The highest growth was recorded in the Scandinavian countries, Italy, Spain and the Benelux countries.

In South-East Europe, product sales rose 11% on the year to 88.4 million euro, constituting 13% of Krka Group total sales. The highest sales growth was recorded in Serbia, Bosnia and Herzegovina, Croatia, Bulgaria and Macedonia.

In Slovenia, sales grew by 3% to 44.4 million euro, constituting a 6.5% share of total sales.

Product sales on Overseas Markets amounted to 21.8 million euro (up 6%), accounting for 3.2% of total group sales.

In the first half, the Krka Group allocated 43.5 million euro to investments, of which the controlling company invested 34.3 million euro.

At the end of June, the group employed 11,212 people, up 4% compared to the number at the end of 2017.

($=0.852726 euro)