In H1 Kraš posted a 4.1% YoY increase in sales, meanwhile EBITDA is up 1.1% YoY, while net profit amounted to HRK 11.6m (+12.8%).
Kras published their H1 2019 results yesterday, showing a 4.1% YoY increase in sales. Breaking down the company’s top line result, Kras managed to somewhat evenly distribute their sales with domestic sales amounting to HRK 241.7m (53%) and foreign to HRK 216m (47%). In value domestic sales went up 2.8% YoY, while foreign sales went up 5.5%.
EBITDA rose slightly, amounting to HRK 40.3m (+1.1%), while EBITDA margin decreased slightly to 8.7% (-0.3 p.p.). The slim increase in EBITDA can be attributed to rising OPEX which went up 4.1% (just like sales), due to the higher volume of production along with higher prices of certain strategic materials (cocoa, dairy products & candy syrup). However, employee expenses witnessed the highest increase as they went up by 11% YoY.
Below the operating line the company also benefited from an improved net financial result which amounted to HRK -1.2m (-45% YoY). Finally, net profit amounted to HRK 13.9m, representing an 11.2% YoY increase.
According to the report, Kras began their investment cycle at the begging of the year with the aim of improving the technical and technological capabilities of their production plant which will further increase the quality of the company’s final products. As a result, the company’s CAPEX in H1 2019 amounted to HRK 39.3m (+296% YoY).