The profit of Auto Hrvatska after taxation for the first nine months of this year amounts to 55.3 million kuna, which is 76.7 percent higher than the profit from the same period last year, as stated in the business report of Auto Hrvatska on the Zagreb Stock Exchange.
In the profit structure, 34.2 million kuna or 62 percent was generated from core (trading) activities, while 21.1 million kuna or 38 percent came from real estate sales, according to the Management’s commentary. Profit excluding the impact of real estate sales compared to the first nine months of last year increased by 9.3 percent. Auto Hrvatska’s revenues in the first nine months of this year increased by 34.1 percent compared to the same period last year, amounting to 811.9 million kuna. Revenues from real estate sales are excluded from these figures.
At the same time, total expenses increased by 31.9 percent, which is a result of the company’s growth and development, the commentary states, adding that expenses are aligned with planned and expected amounts. Auto Hrvatska was founded in 1952 in Zagreb and became a joint-stock company in 1992. It holds a significant position in the commercial vehicle market as the main importer of commercial vehicles from the MAN Nutzfahrzeuge AG group, MAN, and Neoplan. As the parent and founder, Auto Hrvatska manages a system of wholly-owned companies under the common name Business Group Auto Hrvatska through which it conducts specialized sales activities of vehicles, parts, tires, tools, and service equipment, and organizes and performs service activities. (H)
