Podravka Group business results for 1 – 3, 2017

Podravka Group revenues in first quarter amounting to HRK 913.2 million

Podravka Group sales revenues in first quarter 2017 amounted to HRK 913.2 million. Overall sales revenue movements in Podravka Group, which is compared to the same period last year lower by 83.9 million, was affected by the sales of the beverages business program, discontinuation of a part of a meat program, disruptions on Adria region markets due to special circumstances related to the most significant buyer, and change of distributer for the market of Western Europe and temporary sales reduction to the main distributer in the Russian market.

In the first quarter this year, Podravka Group achieved more than 70 percent sales on foreign markets.

During March, those sales and marketing activities have been increased which already in April provide positive results in sales.

Gross profit in first quarter is HRK 320.6 million, and net profit HRK 18 million. The biggest influence, among others, on reduced net profit was made by increased costs of realized option shares in this period.

When talking about strategic business areas of Podravka Group, it is particularly worth emphasizing the positive movements in the Pharmaceuticals segment, the revenue of which is HRK 189.6 million, which is 4 percent growth comparing to the same period last year. Sales revenue increase was mostly affected by own brands which achieved revenue increase by 4.3 percent.

Podravka share average daily price in the observed period was 21.7 percent higher comparing to the same period last year, and at the same time there was an increase of average daily number of transactions, amounts and daily traffic.