In 2018, Petrokemija reported a decrease in operating revenue of 6%, a decrease in EBITDA of 124% and a decrease in net income of 95%.

As Petrokemija published their 2018 preliminary results, we are bringing you some key takes from the report. According to it, in 2018, the company reported operating revenue of HRK 1.87bn, which represents a decrease of 6% YoY. In 2018, Petrokemija recorded a decrease in fertilizer sales of 11.9%, coupled with a decrease in mineral fertilizer sales of 6.6%. Note that the production of mineral fertilizer amounted to 1,034 thousand tons, which is a 13.2% decrease.

Petrokemija Operating Revenue (2015 – 2018) (HRK m)

When observing their operating expenses, they remained the same at HRK 2.2bn.

In 2018, Petrokemija observed a negative EBITDA of HRK -210.5m, which is a decrease of 124%. Such a high decrease could be attributed to above-mentioned decrease in revenues (HRK -118.4m).

Meanwhile, net income amounted to HRK -473.5m, which represents a decrease of 95%. In Q4, the company observed a net loss of HRK -130.2m. Such a high net loss could be attributed to both an unfavorable market condition coupled with HRK 28.8m of value adjustments and provisions for future operating risk occurred in the previous period.  

Petrokemija EBITDA & Net Income (2015 – 2018) (HRK m)