In 2021, Kraš recorded an increase in sales of 4.2%, an increase in EBITDA of 13.3% and an increase in net profit of 19.4%.
In 2021, Kraš recorded an increase in sales of 4.2% YoY, amounting to 1.1bn. On the domestic market, Kraš recorded an increase in sales of 10.8%, amounting to HRK 581.5m. Meanwhile, in the foreign markets, the company reported sales of HRK 467.1m, representing an increase of 5.1% YoY. The biggest driver in sales growth was in cacao products (+8.5% YoY), followed by the candy sector (+8.1%), flour sector (+4.6%) and cookie and waffle (+4.6%). Group increased its business activity through both higher volume sales and higher prices.
Operating expenses also noted an increase of 3.5% YoY, amounting to HRK 1bn. The highest impact on operating cost growth was reported material costs which increased by 9.4% or HRK 55.8m. This growth was partly compensated by a decrease in employee expenses by 3.6% or HRK 8.9m. As a result of the above-mentioned, EBITDA increased by 13.3% to HRK 94.7bn. Such a result shows an improvement of EBITDA margin by 0.4 p.p. to 9%.
Going further down the P&L, operating profit increased by 25.9%, reaching HRK 38.2m. This puts EBIT margin at 3.6% (+0.5 p.p. YoY). The slightly positive net financial result (compared to HRK -5m 2020) improved the company’s earnings before tax and improved EBIT YoY increase. Better net financial position occurred as the company reported much higher FX losses last year – FX loss decreased from HRK -14.2m to HRK -5.5m, noting a 61.1% decrease YoY.
In 2021, Kraš recorded an increase of net profit by 19.4%, to HRK 30m. An increase in net profit also resulted in a slightly higher profit margin of 2.9% (+0.3 p.p. YoY).
Kraš FY Key Financials