Agrokor Group’s Operating Profit 34.2 Million Kuna in January

Total Croatia News

ZAGREB, March 12, 2019 – Revenues of the Agrokor food and retail group in January 2019 amounted to 1.5 billion kuna, and operating profits totalled 34.2 million, the group’s emergency administration said in the latest monthly report on Tuesday.

Data in the report refer to the operations of 16 companies that make up the group’s three business segments – Retail and Wholesale, Food, and Agriculture.

The report shows that all three segments saw an increase in revenues and EBITDA in January compared to the plan.

The report also shows that the operating expenses of Agrokor’s emergency administration, in the period from 10 April 2017, when it took over the management of the group, to the end of January 2019, totalled around 1.37 billion kuna, of which the largest portion, 796.3 million kuna, was the cost of legal, financial and other advisors and restructuring consultants.

Operating expenses for January this year totalled 42.8 million kuna, of which 32.3 million kuna was spent on consultants.

The emergency administration recalls in the report, which refers to the period from February 11 to March 11, that the implementation of the settlement agreement between Agokor’s creditors, would start on April 1, when the Agrokor conglomerate will cease to operate under that name and will be succeeded by a new umbrella company, Fortenova.

More news about Agrokor can be found in the Business section.


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