Konzum Reports Drop in Revenue and Losses

Total Croatia News

ZAGREB, July 27, 2018 – The Konzum retail chain generated a total revenue of 9.1 billion kuna and a loss of 3.9 million kuna in 2017, the company said on Friday.

By comparison, in 2016 the company posted an operating revenue of 10.5 billion kuna and a loss of 1.85 billion kuna.

Despite a fall in the number of buyers and a decline in the market share of three percentage points, Konzum has managed to keep its leading position on the market with a share of 22.4 percent, more than its next two largest competitors combined.

The decline in the market share was due to closures of stores and a drop in the number of buyers.

The positive results of the efforts made could be seen in the last quarter of 2017 when the market share increased by 1.3 percentage points compared with the average of the rest of the year.

Being a member of the indebted Agrokor Group, Konzum has been under government-appointed emergency administration since April 10 last year.

Frozen food and ice-cream producer Ledo, which is also a member of Agrokor Group, generated a loss of 1.7 million kuna in the first quarter of 2018, while its total revenue rose by 8.9 percent to 192.3 million kuna, its unconsolidated financial statement shows.

The loss was considerably lower than in the first quarter of 2017, when it reached 23.5 million kuna.

Sales revenue increased by 17.9 percent to 88.4 million kuna, mostly thanks to the Frozen Food group which recorded a growth of 33 percent. Expenditure was 185.5 million kuna, down 3.5 percent.

The company generated a pre-tax profit of 6.9 million kuna, compared to a loss of 15.7 million kuna in the first quarter of 2017.

The Ledo Group’s total revenue increased by 2.2 percent to 353.56 million kuna, with sales revenue reaching 351 million kuna, up 8 percent on the year. Expenditure dropped by 2.4 percent to 353.9 million kuna.


Subscribe to our newsletter

the fields marked with * are required
Email: *
First name:
Last name:
Gender: Male Female
Please don't insert text in the box below!

Leave a Comment