Đuro Đaković Montaža achieved a net profit of 4.69 million kuna in the first nine months of this year, a decrease of 2.9 percent compared to the same period last year, according to the unaudited consolidated financial report of the company published on the Zagreb Stock Exchange.
The total revenue of the company in the first nine months amounts to 281.69 million kuna, down 21.4 percent. The majority of revenue comes from sales abroad, which amounted to 152.28 million kuna, a decrease of 7 percent, while domestic sales revenue also decreased by 36.4 percent to 121.08 million kuna. Other revenues increased from 1.5 million kuna in the first nine months of last year to 1.7 million kuna in the same period this year, and financial revenues increased from 1.19 million kuna to 1.33 million kuna. The explanation of business results states that 68 percent of business revenue in the observed period was generated in the energy sector, 20 percent in the industrial facilities sector, and 10 percent in the production and assembly of steel structures. In the first nine months of this year, compared to the same period last year, Montaža reduced total expenses by 22 percent to 275.86 million kuna. Material costs and costs of goods sold decreased by 40.4 percent to 121.97 million kuna.
Personnel costs, on the other hand, increased by 2.1 percent to 105.54 million kuna, while depreciation costs recorded a growth of 25.5 percent to 4.46 million kuna. Financial expenses of Montaža increased by 4.7 percent to 2.5 million kuna. The company notes that due to the illiquidity of their customers in the domestic market, the company currently has a very high short-term indebtedness for current liquidity with commercial banks. In addition to ĐĐ Montaža d.d., the financial report also pertains to ĐĐ Montaža AG from Germany, ĐĐ Montaža S.A. Tunisia, ĐĐ Montaža GmbH from Germany, ĐĐ Montaža Beirut, Đuro Đaković d.d. branch Finland, and ĐĐ Montaža k.f.t. Hungary. Furthermore, at the end of last week, the Management of Đuro Đaković Holding reported that from the announcement of the tender, from September 29 to October 30, four companies expressed interest and collected tender documentation for the purchase of shares of Đ.Đ. Montaža.
