Earnings Overview – Slovenian Companies Q1 2020

Q1 of 2020 was as a challenging quarter for Slovenian companies which can be reflected in the fact that most companies observed both sales and net profit decreases, due to the ongoing Covid-19 pandemic. Implementation of different Government measures and regulator recommendations coupled with shutdown of some operations and introduction of remote operations have consequently resulted in decrease of sales which is all in turn impacting companies’ cash flows. Krka showed by far the best performance in Q1 which came on the back of both organic growth and stockpiling which went hand in hand with the lockdown. Financials showed mixed results, with Triglav and Sava Re recording double digit GWP growth, which came on the back of almost all their respective insurance classes. However, both companies’ portfolios were negatively affected by the worsened situation on the financial markets. Petrol witnessed a strong decrease in sales due to lower consumption, however gross profit remained flat.

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