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Podravka Group business results for the period January – September 2008

27 Oct 2008 Koprivnica

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  • The sales of the Podravka Group in the first nine months of 2008 totalled 2,689.6 million HRK which is a growth of 7% compared to the same period the year before.
  • The Strategic business area (SBA) Food and beverages achieved a sales growth of 5%, while the sales of SBA Pharmaceuticals increased 15%
  • The sales of Podravka brands totalled 1,850.2 million HRK, recording a sales growth of 12%
  • The operating profit of the Group totalled 116.9 million HRK and is 26% higher
  • The net profit of the Group totalled 51.2 million HRK and is 52% higher

The Podravka Group in the first nine months of 2008 achieved sales in the amount of 2,689.6 million HRK which is an increase of 164.2 million HRK. The total sales growth of SBA Food and beverages is mostly contributed by the 12% sales growth of Podravka brands. This growth is generated by the increase of sales in all product groups within Podravka brands, while their generic sales recorded a 9% growth. The highest growth within Podravka brands was achieved by the product groups of Podravka dishes in the amount of 13%, Meat products and canned fish 15% and Beverages 22%.

The SBA Pharmaceuticals achieved a sales growth of 64.7 million HRK which accounts for a 15% increase compared to the same period the year before. The most significant foreign sales growth of the SBA Pharmaceuticals was realised on the markets of South-East Europe in the amount of 110% generated by the sales growth on the market of Bosnia and Herzegovina. The reason underlying the substantial sales growth on the market of Bosnia and Herzegovina, apart from a 20% organic growth, is also the sales realised by Farmavita, a company where Belupo is the majority owner.

As far as markets are concerned, the Croatian market achieved sales in the amount of 1,439.0 million HRK, respectively, compared to the same period last year there was a sales drop of 1% but also a drop of the relative share of the domestic market in the total sales of the Group. The drop of sales was accompanied by a change in the sales structure in which a significant drop of Commercial goods in the amount of 60% was almost fully compensated by the 10% growth of sales of Podravka brands and also a 3% growth of the SBA Pharmaceuticals. The SBA Pharmaceuticals achieved 68% of the total sales on the Croatian market thus reaching the business internationalisation rate defined by the strategy.

Foreign markets realised sales in the amount of 1,250.6 million HRK which accounts for a growth of 17%. The highest total sales growth of 23% was achieved on the markets of South-East Europe due to the sales growth on the market of Bosnia and Herzegovina. Apart from a considerable increase on the market of South-East Europe, sales on the market of Central Europe also continue to grow reaching 19% based on the growth on the markets of the Czech Republic and Poland.

 

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