Podravka Group business results for 2009 are severely influenced by the negative one-off items amounting to HRK 388.4 million.

Due to uncertain payment collection, value adjustments of loans granted and accruing interest in the amount of HRK 140.7 million were made as well as adjustments of issued guarantees in the amount of HRK 133.2 million. Other one-off items bearing a negative effect on business results amounted to HRK 114.5 million and covered various value adjustments of assets.

Operating net profit without negative one-off items amounted to HRK 214 million, which represents 38% growth, while the corrected operating margin was increased by 180 bp compared to 2008.

Podravka Group net profit without negative one-off items totaled to HRK 100.3 mill, which is 141% growth compared to 2008. Corrected net profit recorded a growth of 170 bp.

Podravka Group total sales in 2009 was HRK 3,587.1 million, which is 2% decrease compared to 2007.

Sales of SBA Food and Beverages amounted to HRK 2,829.7 mill, recording 3% decrease, while SBA Pharmaceuticals with HRK 752.7 million recorded 3% growth.

Podravka Group operating costs were reduced by HRK 131.7 million.

Total indeptedness of Podravka Group was reduced by HRK 180.5 million compared to year end 2008.

Read in full Business Results for 1-12 2009, PDF file, 1.93 Mb