Croatia's Agrokor Group reported an operating profit of HRK 1.61 billion (€215.5 million) in the first nine months of its financial year.
According to the report, which includes results of 16 companies from the three main divisions of Agrokor - including retail and wholesale, food, and agriculture - more than HRK 1 billion (€134.7 million) was generated in the group's food segment.
The retail and wholesale segment posted HRK 10.1 billion (€1.3 billion) in revenue.
Restructuring Process
The restructuring process resulted in lower-than-planned operating costs, and a higher-than-expected aggregated EBITDA for the year.
EBITDA amounted to HRK 393.3 million, with a margin of 3.9%.
In Croatia, growth was driven in the retail sector by supermarket chain Konzum, which posted an EBITDA of HRK 399.7 million.
Revenue amounted to HRK 6.7 billion, down by HRK 110 million for the same period in 2017. EBITDA margin amounted to 5.9%.
In Bosnia and Herzegovina, Konzum BiH posted a revenue of HRK 960 million, on a negative EBITDA of HRK 16 million and a negative margin of 1.7%.
Revenue
The biggest drop in revenue was recorded by the wholesale unit, Velpro Center, from HRK 1.35 billion to HRK 885 million.
Revenue at the food division amounted to HRK 6.3 billion, with EBITDA of HRK 1.1 billion and a margin of 17.0%.
Ice cream and frozen food producer, Ledo saw revenues grow from HRK 896 million to HRK 952 million, with operating profit up by HRK 10 million to HRK 219 million.
Edible oil producer Zvijezda saw a HRK 43 million hike in revenues to HRK 533 million, while EBITDA grew by HRK 12 million to HRK 57 million.
The Agriculture segment achieved a turnover of HRK 1.6 billion, EBITDA of HRK 139.1 million, and an EBITDA margin of 8.7%.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.
