ZAGREB, December 31, 2018 - The companies in the Zagreb-based Agrokor Group will add the word plus to their names as of the start of 2019, and for instance, the retail chain Konzum will become Konzum Plus, or the mineral water and soft drink producer Jamnica will be Jamnica Plus and so on.
The changes are in line with the settlement agreement and its implementation, according to a press release issued by the Agrokor emergency administration on Monday. The implementation of the settlement is to wrap up until the end of the first quarter of 2019.
The press release read that in the first ten months of 2018, the companies within Agrokor generated about 20 billion kuna in revenues, with EBITDA for the period amounting to 1.7 billion kuna.
"The greatest contribution to the operating result comes from the Food sector, with EBITDA exceeding the budget by almost 70 million kuna, as well as Retail and Wholesale, with EBITDA outperforming budgeted values by 28.7 million kuna or 7.2 per cent."
"The driver of operating profits in Retail is Konzum, having exceeded plans both in revenues and EBITDA. Konzum has thus in the period I-X/18 outperformed planned sales revenues by 1.2%, while sales revenues in retail operations exceeded the budget by 4.4% on annual level. Konzum was able to exceed the budgeted EBITDA by as much as 143.7 million kuna."
Emergency Administrator Fabris Peruško has said that while 2017 was marked by painstaking efforts to salvage the group, 2018 has been a positive turning point.
More news on Agrokor can be found in our Business section.
