In 2020, Kraš recorded a decrease in sales of 4.7%, an increase in EBITDA of 17.9% and an increase in net profit of 31.6%.

In 2020, Kraš recorded a decrease in sales of 4.7% YoY, which was compensated with a higher other operating income. As a result, operating revenue remained flat YoY at HRK 1.03bn. On the domestic market, Kraš recorded a decrease in sales of 5.1% (to HRK 529.4m). Meanwhile, on the foreign markets the company noted a decrease of 4.1% (to HRK 444.6m).

Operating expenses noted a slight decrease of 0.6% YoY, amounting to HRK 1bn. Of that, material costs increased by 3.5% or HRK 20.2m, which was compensated by a sharp decrease in employee expenses by 16.2%. As a result of the above mentioned, EBITDA increased by 17.9% to HRK 85.76bn. Such a result show also an improvement of EBITDA margin by 1.3 p.p. to 8.3%.

Going further down the P&L, operating profit increased by 27%, reaching HRK 32.5m. This puts EBIT margin at 3.1% (+0.6 p.p. YoY). The net financial result of HRK -6.6m (compared to HRK -2.2m) slightly weighted down the company’s earnings before tax. The higher net financial loss almost entirely came due to higher FX losses.

In 2020, Kraš recorded an increase of net profit by 31.6%, to HRK 25.2m.