Corporate news

Business results for 2016

The Supervisory Board of Petrokemija, Plc. discussed the Company unaudited business results for 2016 on Friday. Last year, the Company generated total revenue of HRK 1,932.1 million, total expense of HRK 2,019, 4 million and reported a loss of HRK 87.3 million, or 4.5 percent of total revenue. In 2015, the loss was HRK 92.5 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to HRK 33.7 million.
Actual production of mineral fertilizers amounted to 1,069 thousand tons, which is 11.7 percent less than in 2015. However, it should be noted that during the summer, the facilities were at a standstill for 50 days due to the overhaul. The total value of the  investment for 2016 was HRK 148 million. In the structure of revenue, domestic sales make up 30 percent or HRK 581 million, which is 18 percent less than in 2015, while exports account for 65.5 percent or HRK 1,264.6 million, 29.7 percent less than in 2015. In  the current market situation, it is estimated that variable levels of fertilizer prices in the world market and the relatively high cost of natural gas in Europe and Croatia will continue to have very strong impact on the business of Petrokemija in 2017.

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