In H1 the company observed flat sales, increase in EBITDA of 3% YoY and an increase in net profit of 14%.
As Intereuropa published their H1 2019 report, we are bringing you key takes from it. According to the report, the company observed flat sales of EUR 80.5m, however 5% lower than planned. The lower result compared to the planned one came primarily as a result of a drop in planned one-off transactions in the air freight, railway, road and domestic transport segments. Sales revenue was only up relative to the same period last year in the logistics solutions segment. When observing sales by segment, land transport makes up for 52%, followed by intercontinental transport which makes up for 27%. When observing the sales by market, Slovenia together generated 69% of the Group’s sales revenue and recorded a 1% increase in sales.
Intereuropa Sales (H1 2019 vs H1 2018) (EUR m)
When observing EBITDA, it amounted to EUR 7.1m, representing an increase of 3% YoY and 7% increase than planned. The mentioned increase in EBITDA was the repayment of operating receivables based on a court-brokered settlement. Those receivables were several years old and were impaired in full in the past.
Labour costs were up by 1% YoY (EUR 14.2m), primarily due to growth in average labour costs per employee. The costs of goods, materials and services were also slightly up by 0.8% (EUR 58.9m), primarily on account of higher energy prices and costs of services, the latter for the most part due to higher costs of hired labour and maintenance.
Moving further down the P&L, EBIT amounted to EUR 3.78m, representing an increase of 2.5% YoY.
The loss from financing activities amounted to EUR -0.44m which was better than last year’s result (EUR -0.91m) and better than planned on account of finance income from a court-brokered settlement and lower interest expense on loans received.
In H1, Intereuropa recorded a net profit of EUR 3.08m, representing an increase of 14% YoY and a 25% increase compared to the company’s plan.
Intereuropa EBITDA & Net Profit (H1 2019 vs H1 2018) (EUR m)
Note that for FY 2019, Intereuropa is targeting sales of EUR 169.5m, EBITDA of 14.2m and an operating profit of EUR 7.6m.
