Podravka increased sales by 5% in the first half of the year

Realized sales revenue for the Podravka Group in the first half of the year was 1,674.3 million HRK, which is an increase of 5% compared to the revenue of the same period last year, 2005. Organic growth for that period was 3%. According to the achievement results of the Podravka Group, gross revenue for the first half of the year amounts to 638.5 million HRK, while EBIT is 62.8 million HRK, which is an increase of 31%. Net gain is 14% lower than achieved in the same period last year and is 40.6 million HRK.

Croatian market marks the revenue of 881.1 million HRK and is 3% higher comparing to last year’s. Foreign markets mark the revenue of 793.2 million HRK, while sales revenue from foreign markets takes part in the total revenue with 47.4%. The market in Southeast Europe increased sales by 11% (organic growth in the market of Serbia is 31 %, and in Slovenia is 7 ), Eastern Europe 13 (Food 7%, Pharmaceuticals 38%), while the markets of Western Europe and Overseas countries mark 14% growth. Drop of 3% was marked in the markets of Central Europe.

In the first half of the year Food and Beverages segment increased sales by 6%, while Pharmaceutical segment increased sales growth by 1%. As per groups of products, the most significant sales growth was marked in the fruit and vegetables segment (11%). Following are meat and meat products (8%), baby food, sweets and snacks (7%), Podravka dishes (6%), while food complements under the brand Vegeta marked growth of 3%. The most significant drop was marked in the rice and legumes amounting to 9%, while the sales of beverages is 4% lower than in the same period last year. Commercial goods sales increased in the first half by 14 %.

Apart from stated achievements, other highlights from Podravka’s business are: issuing of the first corporate bond in HRK currency in the value of 375 million HRK and sale of 100% ownership of the company Koprivnička tiskarnica to the company Grafičar d.d. from Ludbreg. Podravka’s share was awarded with “Golden share” prize for the best industrial share in the year 2005. Organic growth of 3% was contributed by the launch of new products, appearing in the market in the second half of the year: Vegeta – universal liquid food complement, sliced tomatoes group, Schwarzwald dessert, while the Pharmaceutical segment launched Zorac, Zan, Neofen Forte and Fit Lax.