Key financial indicators

Overview of key financial indicators in 1-6 2017

Sales (in HRKm) 1-6 2017 1-6 2016 % change
Total revenues of Podravka Group 1,955.3 1,998.4 -2.2%
Sales revenues of Podravka Group 1,951.2 1,988.5 -1.9%
Sales revenues of SBA Food 1,544.4 1,609.5 -4.0%
Sales revenues of SBA Pharma 406.8 379.1 7.3%
Podravka Group's profitability (in HRKm) 1-6 2017 1-6 2016 % change
Group's gross profit 689.3 723.8 -4.8%
Group's gross profit margin 35.3% 36.4% -107 bp
Group's EBITDA 140.0 222.0 -36.9%
Group's EBITDA margin 7.2% 11.2% -399 bp
Group's EBIT 44.8 129.8 -65.5%
Group's EBIT margin 2.3% 6.5% -423 bp
Group's net profit after MI 24.8 97.3 -74.5%
Group's net profit margin after MI 1.3% 4.9% -362 bp
Podravka Group's balance sheet (in HRKm) 30.06.2017 31.12.2016 % change
Total assets 5,112.1 5,285.7 -3.3%
Shareholders' equity 2,895.6 2,877.2 0.6%
Minority interests 51.1 49.2 3.9%
Cash and cash equivalents 285.8 337.6 -15.3%
Financial debt 1,370.2 1,379.4 -0.7%
Net debt 1,084.4 1,041.7 4.1%
Podravka Group's cash flow (in HRKm) 1-6 2017 1-6 2016 % change
Net cash flow from operating activities 136.7 142.0 -3.7%
Capital expenditures 122.9 233.1 -47.3%
Depreciation and amortization 95.2 92.2 3.2%
Free cash flow 13.8 -91.1 n/a
Podravka Group's ratios and indicators 30.06.2017 2016 % change
Employee number as at 31.12. (in units) 6,432 6,404 0.4%
P&L interest expense 27.7 31.5 -11.9%
Sales revenues / Number of employees (in HRK000) 644.9 653.6 -1.3%
Net profit after MI / Sales revenues (in HRK000) 17.1 28.5 -40.0%
Return on average assets 2.3% 3.7% -142 bp
Return on average capital 4.0% 6.5% -255 bp
Return on average invested capital 3.8% 5.7% -195 bp
Total shareholders' equity / Total assets 57.6% 55.4% +228 bp
EBITDA / P&L interest expense 14.0 14.9 -6.3%
Net debt / EBITDA 2.8 2.2 26.1%
Sales (in HRKm) 1-3 2017 1-3 2016 % change
Total revenues of Podravka Group 915.5 1,002.9 -8.7%
Sales revenues of Podravka Group 913.2 997.1 -8.4%
Sales revenues of SBA Food 723.6 814.6 -11.2%
Sales revenues of SBA Pharma 189.6 182.5 3.9%
Podravka Group's profitability (in HRKm) 1-3 2017 1-3 2016 % change
Group's gross profit 320.6 365.5 -12.3%
Group's gross profit margin 35.1% 36.7% -154 bp
Group's EBITDA 75.8 126.9 -40.3%
Group's EBITDA margin 8.3% 12.7% -442 bp
Group's EBIT 28.2 81.1 -65.2%
Group's EBIT margin 3.1% 8.1% -504 bp
Group's net profit after MI 18.0 60.1 -70.0%
Group's net profit margin after MI 2.0% 6.0% -405 bp
Podravka Group's balance sheet (in HRKm) 31.03.2017 31.12.2016 % change
Total assets 5,182.2 5,285.7 -2.0%
Shareholders' equity 2,890.0 2,877.2 0.4%
Minority interests 50.2 49.2 2.0%
Cash and cash equivalents 250.5 337.6 -25.8%
Financial debt 1,338.1 1,379.4 -3.0%
Net debt 1,087.6 1,041.7 4.4%
Podravka Group's cash flow (in HRKm) 1-3 2017 1-3 2016 % change
Net cash flow from operating activities 48.1 -5.0 n/a
Capital expenditures 84.7 121.1 -30.0%
Depreciation and amortization 47.6 45.8 3.9%
Free cash flow -36.6 -126.0 -71.0%
Podravka Group's ratios and indicators 31.03.2017 2016 % change
Employee number as at 31.12. (in units) 6,497 6,404 1.5%
P&L interest expense 29.4 31.5 -6.5%
Sales revenues / Number of employees (in HRK000) 631.3 653.6 -3.4%
Net profit after MI / Sales revenues (in HRK000) 21.6 28.5 -24.2%
Return on average assets 2.8% 3.7% -83 bp
Return on average capital 5.0% 6.5% -150 bp
Return on average invested capital 4.3% 5.7% -140 bp
Total shareholders' equity / Total assets 56.7% 55.4% +137 bp
EBITDA / P&L interest expense 14.2 14.9 -4.7%
Net debt / EBITDA 2.6 2.2 17.1%
Sales (in HRKm) 1-12 2016 1-12 2015 % change
Total revenues of Podravka Group 4,226.5 3,761.1 12.4%
Sales revenues of Podravka Group 4,185.5 3,626.8 15.4%
Sales revenues of SBA Food 3,370.3 2,821.8 19.4%
Sales revenues of SBA Pharma 815.2 805.0 1.3%
Podravka Group's profitability (in HRKm) 1-12 2016 1-12 2015 % change
Group's gross profit 1,518.9 1,385.1 9.7%
Group's gross profit margin 36.3% 38.2% -190 bp
Group's EBITDA 469.6 468.6 0.2%
Group's EBITDA margin 11.2% 12.9% -170 bp
Group's EBIT 268.9 285.2 -5.7%
Group's EBIT margin 6.4% 7.9% -144 bp
Group's net profit after MI 182.4 397.3 -54.1%
Group's net profit margin after MI 4.4% 11.0% -660 bp
Podravka Group's balance sheet (in HRKm) 31.12.2016 31.12.2015 % change
Total assets 5,285.7 4,991.6 5.9%
Shareholders' equity 2,877.2 2,750.0 4.6%
Minority interests 49.2 67.7 -27.3%
Cash and cash equivalents 337.6 291.9 15.7%
Financial debt 1,379.4 1,214.3 13.6%
Net debt 1,041.7 922.4 12.9%
Podravka Group's cash flow (in HRKm) 1-12 2016 1-12 2015 % change
Net cash flow from operating activities 476.7 274.2 73.8%
Capital expenditures 437.1 271.2 61.2%
Depreciation and amortization 191.4 148.3 29.1%
Free cash flow 39.6 3.0 1226.2%
Podravka Group's ratios and indicators 2016 2015 % change
Employee number as at 31.12. (in units) 6,404 6,657 -3.8%
P&L interest expense 31.5 36.9 -14.8%
Sales revenues / Number of employees (in HRK000) 653.6 544.8 20.0%
Net profit after MI / Sales revenues (in HRK000) 28.5 59.7 -52.3%
Return on average assets 3.5% 9.3% -580 bp
Return on average capital 6.5% 17.7% -1118 bp
Return on average invested capital 5.7% 7.1% -143 bp
Total shareholders' equity / Total assets 55.4% 56.5% -109 bp
EBITDA / P&L interest expense 15.2 12.7 19.5%
Net debt / EBITDA 2.2 2.0 10.9%
Sales (in HRKm) 1-9 2016 1-9 2015 % change
Total revenues of Podravka Group 3,044.3 2,503.6 21.6%
Sales revenues of Podravka Group 3,030.8 2,462.2 23.1%
Sales revenues of SBA Food 2,465.2 1,897.8 29.9%
Sales revenues of SBA Pharma 565.7 564.3 0.2%
Podravka Group's profitability (in HRKm) 1-9 2016 1-9 2015 % change
Group's gross profit 1,104.1 957.2 15.3%
Group's gross profit margin 36.4% 38.9% -245 bp
Group's EBITDA 337.4 276.5 22.0%
Group's EBITDA margin 11.1% 11.2% -10 bp
Group's EBIT 201.2 166.8 20.6%
Group's EBIT margin 6.6% 6.8% -14 bp
Group's net profit after MI 142.2 131.0 8.6%
Group's net profit margin after MI 4.7% 5.3% -63 bp
Podravka Group's balance sheet (in HRKm) 30.09.2016 31.12.2015 % change
Total assets 5,082.4 4,945.8 2.8%
Shareholders' equity 2,828.3 2,750.0 2.8%
Minority interests 48.2 67.7 -28.8%
Cash and cash equivalents 219.4 291.9 -24.8%
Financial debt 1,375.0 1,214.3 13.2%
Net debt 1,155.6 922.4 25.3%
Podravka Group's cash flow (in HRKm) 1-9 2016 1-9 2015 % change
Net cash flow from operating activities 299.3 32.3 826.9%
Capital expenditures 383.7 144.7 165.2%
Depreciation and amortization 136.1 101.2 34.5%
Free cash flow  (84.4)  (112.4) -24.9%
Podravka Group's ratios and indicators 1-9 2016. 2015 % change
Employee number as at 31.12. (in units) 6,754 6,657 1.5%
P&L interest expense 35.0 36.9 -5.2%
Sales revenues / Number of employees (in HRK000) 621.2 544.8 14.0%
Net profit after MI / Sales revenues (in HRK000) 60.5 59.7 1.3%
Return on average assets 8.1% 9.4% -125 bp
Return on average capital 14.6% 17.7% -302 bp
Return on average invested capital 6.6% 7.2% -57 bp
Total shareholders' equity / Total assets 56.6% 57.0% -38 bp
EBITDA / P&L interest expense 15.1 12.7 19.2%
Net debt / EBITDA 2.2 2.0 10.9%
Sales (in HRKm) 1-6 2016 1-6 2015 % change
Total revenues of Podravka Group 1,998.4 1,613.7 23.8%
Sales revenues of Podravka Group 1,988.5 1,576.3 26.2%
Sales revenues of SBA Food 1,609.5 1,198.7 34.3%
Sales revenues of SBA Pharma 379.1 377.6 0.4%
Podravka Group's profitability (in HRKm) 1-6 2016 1-6 2015 % change
Group's gross profit 723.8 614.3 17.8%
Group's gross profit margin 36.4% 39.0% -257 bp
Group's EBITDA 222.0 196.1 13.2%
Group's EBITDA margin 11.2% 12.4% -128 bp
Group's EBIT 129.8 123.2 5.4%
Group's EBIT margin 6.5% 7.8% -129 bp
Group's net profit after MI 97.3 91.9 5.8%
Group's net profit margin after MI 4.9% 5.8% -94 bp
Podravka Group's balance sheet (in HRKm) 30.06.2016 31.12.2015 % change
Total assets 4,947.9 4,945.8 0.0%
Shareholders' equity 2,835.3 2,750.0 3.1%
Minority interests 46.6 67.7 -31.2%
Cash and cash equivalents 242.2 291.9 -17.0%
Financial debt 1,264.3 1,214.3 4.1%
Net debt 1,022.1 922.4 10.8%
Podravka Group's cash flow (in HRKm) 1-6 2016 1-6 2015 % change
Net cash flow from operating activities 142.0  (11.9) n/a
Capital expenditures 233.1 60.6 284.7%
Depreciation and amortization 92.2 67.3 36.9%
Free cash flow  (91.1)  (72.5) 25.6%
Podravka Group's ratios and indicators 1-6 2016 2015 % change
Employee number as at 31.12. (in units) 6,672 6,657 0.2%
P&L interest expense 35.6 36.9 -3.6%
Sales revenues / Number of employees (in HRK000) 605.4 544.8 11.1%
Net profit after MI / Sales revenues (in HRK000) 60.4 59.7 1.1%
Return on average assets 8.1% 9.4% -126 bp
Return on average capital 14.4% 17.7% -324 bp
Return on average invested capital 6.1% 7.2% -104 bp
Total shareholders' equity / Total assets 58.2% 57.0% +127 bp
EBITDA / P&L interest expense 13.9 12.7 9.4%
Net debt / EBITDA 2.1 2.0 5.0%

Notes:
Possible decimal differences due to rounding.
Financial debt = Non-current and current borrowings + Financial liabilities at fair value through profit and loss.
Net debt = Financial debt - Cash and cash equivalents.
Free cash flow = Net cash flow from operating activities - Capital expenditures.
Return on average assets = Net profit after minority interests / Average total assets.
Return on average equity = Net profit after minority interests / Average shareholders' equity.
Return on average invested capital = EBIT*0.82 / (Average total shareholders' equity + average financial debt - average cash and cash equivalents).
Ratios and indicators have been calculated on the TTM basis.