Kras published their 9M results last week, recording a 3.7% YoY decrease in sales, meanwhile EBITDA rose 32.1% while net profit amounted to HRK 26.3m (+42.3% YoY).

In the first 9m of 2020 Kraš recorded a decrease in sales of 3.7% which amounted to HRK 670.5m. Of that, HRK 364.4m (or 54%) was generated in the domestic market, while HRK 306.1m (or 46%) relates to the export markets. Operating revenue on the other hand observed an increase of 0.6% to HRK 704.8m, because of a sharp increase in other operative revenue to HRK 34.3m. Such an increase was mainly a consequence of a collection of receivables from Saudi Arabia.

EBITDA is up 32.1% YoY, amounting to HRK 76.7m. The primary reason for the increase are lower staff costs which are down 19% YoY.

Below the operating line, Kras’ net financial result turned negative to HRK -2.4m from last year’s positive result of HRK 0.35m. The decrease can be attributed to negative FX movement. Finally, the bottom line amounted to HRK 26.3m (+42.3%).

Kras 9M Key Financials