Agro news

First-half profit of 29 million kuna

In the first six months of 2019 Petrokemija d.d. achieved a net profit of HRK 29 million, while in the same period last year the loss amounted to HRK 176 million. Comparing the results without one-off items, the net profit for the first half is HRK 90 million, compared to the net loss of HRK 127 million in the first half of 2018.

The drivers of significantly better results compared to the same period last year are external and internal influences. The internal refers to increased sales volumes in Croatia and in regional markets, continuous production and cost control, and external to a lower gas price, which was, however, partially compensated with higher CO2 emission charges. Compared to the first six months of 2018, no significant changes in the price of fertilizer were recorded.

"This is the best first-half result of Petrokemija in the last last ten years. Such a result encourages us to continue the process of business optimization because problems inherited from the past are still a heavy burden. In the second part of the year, we will continue with the implementation of adopted business plans, cost control and the preparation of the company for the investment cycle.", said Davor Žmegač, President of the Management Board of Petrokemija d.d.

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