The process of reaching a settlement under the extraordinary administration procedure of Agrokor is one of the most complex in Croatia and in Europe due to the complexities of Agrokor as a business and the total amount of the debt as well as the large number of creditors, 5.700 of them. This section contains all the news on the process of reaching of a settlement for all the key stakeholders, as well as the latest details and developments.
Agrokor Publishes New Monthly Report –Successful Operations and Profitability Increase Continue
12. Oct 2018.
~ Operating profits of the Food sector amount to HRK 1.04bn. Total revenues in Retail reach HRK 8.97bn in the reporting period. Konzum continues to operate successfully with sales revenues in September exceeding last year’s in the same month by three per cent.~
Agrokor’s Extraordinary Administration published the monthly report for the period between 11 September and 10 October, 2018. The objective of the report is to follow the development of the economic and financial situation within the Agrokor Group over the course of this period and to outline the realization of operating activities of the Extraordinary Administration as well as the overall operations of Agrokor d.d. and some of its major subsidiaries
The report includes the results of 16 companies from three operating segments: Retail & Wholesale, Food and Agriculture, which in the first eight months of 2018 generated a total of HRK 16.07bn in non-consolidated revenues and HRK 1.46bn of operating profits. EBITDA outperformed the planned values for the period by HRK 25.5m. The major part of the increased operating profit realization over the course of the very successful tourist season was accounted for by the results of the Retail and Wholesale sector, primarily Konzum, and the results of the Food sector.
In spite of the slightly lower sales revenues, the business segments Food and Retail&Wholesale recorded an increase in operating profits against budget. Thus the Food sector generated operating profits of more than HRK 1bn, outperforming budget by HRK 54.7m. This was mostly due to the restructuring measures and the focus on more profitable product categories. At the same time all companies from the Food segment were able to maintain or increase their respective market shares and strengthen their market positions.