Belje first quarter ended with a profit of 1.88 million kuna

The agricultural company Belje, part of the Agrokor group, achieved a profit of 1.88 million kuna in the first quarter, unlike the same period last year when a loss of 16.25 million kuna was recorded, according to the data from the unaudited unconsolidated financial report of the company.

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“The achieved result is significantly better compared to the same period last year, mainly due to the continuous implementation of measures to improve business efficiency,” the report states, published on the Zagreb Stock Exchange website.

Total revenues of Belje amounted to 319.5 million kuna, a decrease of 9.1 percent year-on-year. The majority of revenues come from sales, which amounted to 281 million kuna, down 11 percent compared to the same period last year.

In the first quarter, Belje also reduced total expenses by 13.6 percent to 317.6 million kuna.

According to the consolidated report, the Belje group achieved total revenues of 322.6 million kuna and total expenses of 320.9 million kuna in the first quarter. The profit achieved amounts to 1.73 million kuna, unlike the same period last year when a loss of 16.1 million kuna was recorded.

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The consolidated report, in addition to the parent company Belje, also includes Belje Agro-vet d.o.o., which is 100 percent owned by Belje, whose primary task is the procurement of veterinary medicines and the treatment of animals on Belje farms.

The report states that today Belje is the largest agricultural company in Croatia, and in terms of business results, it ranks among the leading agricultural companies in the Adriatic region.

The report also states that the comprehensive, integrated food production process at Belje begins with agricultural production on its own fields and farms using the most modern agricultural machinery and equipment.

Controlled raw materials from its own production are processed into finished products in numerous food industry facilities of Belje.

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The company’s operational business is divided into two strategic business areas – Agriculture and Nutrition. Agriculture includes Crop Production, Tomato Production, Animal Feed, Pig Breeding, Cattle Breeding, and Milk Production, while the production of final products is grouped in the strategic business area of Nutrition.