C.I.O.S. Group achieved the best business result in its history last year, with consolidated business revenues of nearly three billion kuna, or more than 389.5 million euros, according to the company’s statement.
Compared to 2021, when financial indicators also confirmed the group’s business growth relative to the previous year, 2020, a further increase in total business revenues was recorded, now at 7.1 percent. Revenue from sales abroad in 2022 increased by 15.7 percent compared to the previous year, amounting to nearly 2.2 billion kuna, or more than 288.4 million euros.
Considering that the Group sold business shares in companies that were engaged in waste management in Serbia, observing the business exclusively in the markets of the Republic of Croatia and Bosnia and Herzegovina where the Group currently operates, the increase in business revenues amounts to as much as 17.4 percent.
The total consolidated EBITDA of the Group reached 417 million kuna, or 55.3 million euros, resulting in an EBITDA margin of 14 percent. The corporate income tax for operations during 2022 amounted to 90.48 million kuna, or 12 million euros, with the tax on extraordinary profits amounting to 27.15 million kuna, or 3.6 million euros.
In addition to the overall economic and business development, a positive trend was recorded in almost all segments of the business, and strong exports, according to research by relevant business media, placed the company CEZA-R d.o.o., the largest member of the Group, at the top of Croatian net exporters with a difference of 229 million euros (between exports and imports).
The quantities of total collected and processed waste have also continuously increased, exceeding one million and 100 thousand tons in 2022. The Group, as in previous years, preserved all jobs and even increased the number of employees in the overall personnel structure.
