Dukat achieved a net profit of 89.3 million kuna

In the first nine months of this year, Dukat achieved a net profit of 89.3 million kuna, which is an increase of 15.9 million kuna or 21.7 percent compared to the same period last year, due to an increase in financial income, specifically the profit withdrawn from associated companies, according to data from the company’s financial report.

Operating profit (EBIT) in the mentioned period amounted to 25.3 million kuna, a decrease of 12.2 million kuna or 32.4 percent, the report shows.

Dukat’s business revenues in the first nine months amounted to 1.205 billion kuna, a decrease of 3 percent compared to the same period last year. Sales revenues also recorded a decline of 2.7 percent, to 1.201 billion kuna.

At the same time, sales revenues in the domestic market, which account for 86.3 percent of total sales revenue, decreased by 6.8 percent, to 1.03 billion kuna. Sales revenues in international markets, which account for 13.7 percent of total sales revenue, increased by 35 percent, to 164.2 million kuna.

Dukat’s business expenses in the first nine months amounted to 1.18 billion kuna, a decrease of 2.1 percent.

“In the first nine months of this year, extremely negative economic and sectoral trends from previous periods continue. The pressure on producer prices, due to the increased influx of market surpluses of extremely low prices – primarily long-life milk, semi-hard cheeses, and butter from other EU markets into Croatia, negatively impacts the profitability of operations,” the report states.

Similarly, the increased influx of market surpluses of finished dairy products into the Croatian market negatively affects primary milk production in terms of reduced production, a decrease in the number of milking cows, and the number of milk producers, Dukat representatives state.

They also emphasize that the period is marked by the continuation of long-term management activities in optimizing business processes and operating costs, as well as increasing efficiency at all levels.

Dukat also published consolidated financial results for the Dukat Group, which, along with the parent company, includes 14 associated companies in Croatia, Slovenia, Bosnia and Herzegovina, Serbia, North Macedonia, Kosovo, and Bulgaria.

The Dukat Group achieved a net profit of 97 million kuna in the first nine months of this year, which is 4 million kuna less than in the same period last year.

The group’s business revenues in nine months amounted to 2.5 billion kuna, a decrease of 4 percent compared to the same period last year. Sales revenues also recorded a decline of 4.1 percent, to 2.46 billion kuna.

The value of investments in fixed assets in the first nine months amounted to 66.4 million kuna, with the highest investments made in the procurement of transport means and production facilities in Croatia.