The company Badel 1862 recorded a loss of 18.7 million kuna in the first quarter of this year, which is a significant increase compared to the same period last year when the loss amounted to 1.2 million kuna, according to the unaudited financial report of the company published on the Zagreb Stock Exchange.
The company notes that operations in the first quarter were marked by special restrictions due to account blockages caused by the forced collection of customs and tax debts by the Tax and Customs Administration. Only from mid-February, after agreements were reached with the Ministry of Finance, conditions were met for relatively normal operations. The company also notes that since the beginning of this year, they have started applying new accounting policies and making mandatory provisions for all customer approvals expected by the end of the year, as well as provisions for severance costs that will arise from the redundancy of surplus workers by the end of this year. Under such conditions, Badel 1862 achieved business revenues of 60.4 million kuna, which is 19 percent less than in the same period last year. Revenues from sales in the domestic market in the segment of the core program of strong alcoholic beverages, wines, and commercial goods recorded a growth of 7 percent.
