Podravka Group: Sales Revenue Increased by 21 Percent in the First Quarter

Although the COVID-19 disease appeared in all markets where Podravka Group is present in the first quarter of 2020, the company from Koprivnica recorded significant revenue growth compared to the same period last year. Thus, at the Group level, sales revenue amounted to 1.23 billion kuna, representing a growth of 20.8 percent.

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Double-digit growth in sales of own brands was achieved in both business segments, food and pharmaceuticals, influenced by increased demand resulting from household stockpiling caused by the emergence of COVID-19. In the food segment, sales revenue from own brands increased by almost 21 percent, while in the pharmaceuticals segment, it rose by as much as 27.7 percent. The total revenue from Podravka Group’s own brands amounted to 1.12 billion kuna, which is nearly 200 million kuna more than in the first quarter of last year. Revenue from other sales was 111 million kuna, which is 12.6 million kuna more compared to 2019, or 12.8 percent.

When viewed by segments, food accounted for 79 percent of revenue, while the pharmaceuticals segment accounted for 21 percent.
In the upcoming period, there is a possibility of stagnation in consumer demand for certain Podravka food and pharmaceutical products, which is normal in circumstances where inventories from production companies have spilled over to customer or consumer inventories, states, among other things, in Podravka’s first quarter financial report for 2020.

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