Business News

Laško Group Returns to Profit

Laško, 27 August (STA) - The group around brewer Pivovarna Laško generated EUR 130.5m in revenues in the first half of the year, which is virtually flat compared to the same period last year. The group meanwhile posted a EUR 7.3m net profit after recording a EUR 2.2m loss in the first half of 2013.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) at the group level were slightly up to EUR 24.8m, while profit before interest and taxes stood at EUR 16.8m, up 7.6% compared to the first half of 2013.

In the first half of 2014, the group sold around two million hectolitres of beverages, which is 5.2% more year-on-year and 1% above the plan.

Total sales on foreign markets increased by 13.4% compared to the first half of 2013. The share of exported beverages in the structure of total sales was up to 37%, the company said in a press release on Wednesday.

On the Slovenian market, the group increased sales by 1% to 1.23 million hectolitres to reach 48.8% of the annual plan.

The core company generated EUR 45.8m in revenues in the January-June period, while EBITDA amounted to EUR 7.7m.

The group managed to significantly reduce its debt in the first half of the year, mainly on the account of the sale of a 23% stake in retailer Mercator to the Croatian food group Agrokor for EUR 75.5m, and the sale of the stake in the Kosovo-based brewer Birra Peja for EUR 14.75m.

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