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Podravka Group business results for the first six months of 2011

29 Jul 2011 Koprivnica

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Net profit of Podravka Group in the first six months amounts to 55.6 million HRK which is an increase of 78% compared to the same period last year.

Net profit of Podravka Group in the first six months amounts to 55.6 million HRK which is an increase of 78% compared to the same period last year.

Revenues from sales of Podravka Group amounted to 1.724.2 million HRK, an increase of 4% compared to the same period in 2010. Sales of SBA Food and beverages amounted to 1.369.1 million, which shows increased sales by 4% compared to the same period last year.

Sales growth is the result of increasing sales on foreign markets (5%) and Croatian market where, for the relevant period, sales grew by 3%. Foreign markets, which recorded sales growth of SBA Food and beverages are the markets of Southeast Europe (5%), especially Serbian market (13%) and the market of Bosnia and Herzegovina (4%), the market of Central Europe (7%) with Czech Republic (17%) and Poland (12%) and the market of Western Europe, overseas and the Far East (5%) with the largest growing markets of Austria (49%) and Australia (12%).

SBA Pharmaceuticals achieved sales of 355.1 million HRK, which represents a sales increase of 2% over the same period in 2010. Overseas markets increased sales of SBA Pharmaceuticals by 9%, with the largest contribution of the market of Bosnia and Herzegovina (9%). Significant sales growth is recorded in Slovenia (44%), Russia (4%) and Turkey (170%).

Operating profit (EBIT) of Podravka Group is EUR 102.2 million HRK, indicating an increase of 37% and the EBIT margin was raised to 5.9%.

Detailed information about Podravka Group business results for the first six months of 2011 can be found on Podravka d.d website under Investors / Financial reports / Disclosure of Business Results.

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