In 2018, the company recorded an increase in revenue of 7%, a decrease in EBITDA of 8% and a decrease in net income of 7.4% (looking at financials in RSD). The company also proposed RSD 85 DPS, making the dividend yield 4.1%.

As Metalac Group, a Serbian manufacturing company, posted their 2018 consolidated financial result, we are bringing you some key takes from the report. According to it, the company recorded an increase in sales of 10% YoY, amounting to EUR 82.3m (Average EUR/RSD in 2018 was 118.27). Note that when observing the sales revenues in RSD, they increased 7%. The increase in sales could be attributed to the good performance on the Serbian market (revenues increased by 10.2%). Sales of the company in foreign markets increased just 1.4%.

Metalac Revenues (2016 – 2018) (EUR m)

When observing the company’s EBITDA, it decreased by 2.2%, amounting to EUR 6.9m. However, when looking at the EBITDA in RSD, it decreased by 8%.

Moving down the P&L, Metalac recorded a decrease in net income of 5.28%, amounting to EUR 3.8m. When observing the net income in RSD, it fell by 7.4%. The decrease in net income could be mostly be attributed to the increase in operating expenses which increased by 9.2%.

EBITDA & Net Income (2016 – 2018) (EUR m)

The company also proposed a dividend of RSD 85 per share, which is subject to approval at the Annual General Meeting, which will be held on 24 April 2019. Note that the dividend yield is 4.1%.