Kraš Group Concluded Last Year with Revenue Growth of 15.2 Percent

The unaudited business results for 2023 show the continued growth of Kraš Group. Consolidated total revenues amounted to €179.89 million, which is €23.75 million or 15.2 percent higher than the revenues achieved in the same period of 2022. Total consolidated expenses increased by 14.2 percent compared to last year, amounting to €171.47 million. At the end of the 2023 business year, Kraš Group achieved a net profit of €6.72 million, which is €1.88 million or 38.9 percent higher than the net profit achieved in the same period of the previous year.

– The published unaudited results demonstrate the stability of operations. We are pleased that Kraš Group continued to grow last year, especially since we successfully launched an investment cycle worth over €20 million during challenging times. This involves the modernization and automation of production facilities in our five factories, of which €15.4 million was contracted in 2023, representing a 32 percent increase compared to last year. Positive business performance also allowed us to raise the material rights of employees, with the average gross salary increasing by 9.6 percent last year.

Global challenges have unfortunately become the norm rather than the exception over the past few years, and we are also facing one of the largest increases in cocoa prices in nearly 50 years this year. Given that this is an extremely important raw material for the entire confectionery industry, we are cautiously viewing this year. Our focus remains on adjusting activities according to the situation and continuing investments in production to maintain and strengthen our position as one of the largest confectionery manufacturers in Southeast Europe,” stated Allen Halamić, CEO of Kraš.

Sales Volume Growth of Confectionery Assortment

In the domestic market, a higher volume of sales was achieved compared to the previous year, increasing by 3.9 percent, while exports to regional countries grew by 5.8 percent.

In total revenues, sales revenues amounted to €171.66 million, other business revenues were €7.4 million, and financial revenues were €833 thousand.

Revenues from the sale of products and services in the domestic market amounted to €94.3 million, which is 12.8 percent higher than last year, while revenues from sales abroad amounted to €75 million, which is 13.4 percent higher than last year.

EBITDA of €17.98 Million

Through a strong focus on optimizing internal resources and rationalizing all segments of expenses, a lower growth rate of expenses compared to revenues and higher profits were achieved, resulting in an EBITDA of €17.98 million, which is €3.83 million or 27.1 percent higher than the previous year. The EBITDA margin is ten percent, which is 0.9 percentage points higher than last year’s achieved EBITDA margin.