In 2018, Sojaprotein recorded a decrease in operating revenues of 16% YoY, a decrease in EBITDA of 29% and a net loss of RSD 2.8bn.
As Sojaprotein published their 2018 results, we are bringing you some key takes from the report. According to it, the company recorded operating revenues of RSD 14.4bn (EUR 121.6m) which represents a decrease of 16% YoY. In 2018, Sojaprotein observed the highest decrease in revenues in soybean by RSD 872m (-110%) and raw soybean oil by RSD 739.6m (-25%). When observing the foreign market, the company recorded a decrease of 14.1% and amounted to RSD 9.1bn (EUR 77.3m).
Operating Revenues (2015 – 2018) (RSD bn)
Furthermore, operating expenses in 2018 decreased by RSD 2.6bn (-15%). This decrease could mostly be attributed to the fall in material costs of RSD 2.1bn. Going further down the P&L, Sojaprotein recorded EBITDA of RSD 348.7m (EUR 2.9m) which represents a decrease of 29%.
In 2018 the company recorded a net loss for the third year in a row, which amounted to RSD -2.8bn (EUR -23.6m) which is a reduction of RSD 3.7bn compared to 2017.
However, note that in 2017, Sojaprotein had high expenses from value adjustments which amounted to RSD 5.9bn (EUR 49.9m), compared to 2018 when they amounted to RSD 1bn (EUR 8.9m).
EBITDA & Net Income (2015 – 2018) (RSD bn)
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