December the 1st, 2022 - The Fortenova profit has reached impressive figures during the first nine months of 2022, with the growth of all business indicators being helped along by an excellent post-pandemic summer tourist season.
As Poslovni Dnevnik writes, on Wednesday this week, the Fortenova Group (Grupa) announced its detailed business results for the first nine months of this year, according to which it achieved a profit from continuous operations of 534 million kuna, against a loss of 384 million kuna in the same period last year.
The greatest positive impact on the growth of all business indicators was the aforementioned excellent tourist season which finally took place as normal following two years of coronavirus-induced instability and stress, there were also significant operational improvements which helped the situation and even ongoing inflation did its bit.
In the aforementioned nine-month period, Fortenova profit margins went up, seeing the company achieve a total consolidated income from continuous operations of 30.3 billion kuna, (4 billion euros), which represents a 38 percent increase compared to the same period back in 2021.
Without the impact of the integration of Mercator, the total income from Fortenova's continuous operations is 15 percent higher in comparison to the same period back in 2021. At the same time, the consolidated adjusted EBITDA of that same period compared to last year increased by 22 percent, to 2.1 billion kuna, or 275 million euros.
At the end of September this year, Fortenova profit was eye-watering, with almost two billion kuna resting in its accounts. At the same time, it continued with the process of debt relief.
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