In the first three months of 2019, Petrokemija d.d. made net income of HRK 22 million, compared to HRK 79 million net loss in the same period last year.
The sales volume and sales structure are the main promotors of better results compared to the same period of 2018. Total sales volume rose by 31 percent and revenue grew by 44 percent, thanks to good results in Croatia and in regional markets.
Continuous production since November 2018 has further contributed to the results of the first quarter. As far as external influences on the business are concerned, there are significant increases in CO2 emissions fees, which increased by 62 percent. Compared to the same period last year, no significant changes in fertilizer prices were recorded.
"A reduced demand for fertilizers is expected starting from May, which will have a negative impact on the result in the next two quarters. As of September, the demand should slowly rise again, which could have a similar positive effect as in the first quarter. We expect a positive impact on fixed operating costs in the second half of 2019, when a restructuring program will be implemented, "said Davor Žmegač, the president of the Management Board of Petrokemija d.d.