Fortenova reports €4bn revenue in Jan-Sep 2022

NEWS 22.11.2022 21:48
Source: N1/Ilustracija

In the first nine months of this year, the Fortenova Group reported a total consolidated revenue of more than 30 billion kuna (€4 billion), or 38 percent up from 2021, and an adjusted consolidated earnings before taxes of more than 2 billion kuna (€265 million), or 20 percent up year-on-year, state news agency Hina said on Tuesday, citing the company's press release sent to the media.

The company’s total consolidated income in the first nine months of 2021 was 22 billion kuna, while the adjusted consolidated EBITDA was 1.7 billion kuna. Its net profit in Jan-Sep 2021  was 1.3 billion kuna (€172 million).

“Fortenova had an excellent first nine months of this year,” Fortenova Group’s CEO, Fabris Perusko, said at a press briefing.

He underlined that the most important thing for the Group is that it “worked intensively on deleveraging” over the past four years. “Our debts have been cut in half. The ratio of our EBITDA to debt was 7.2 four years ago, and at the end of the third quarter of this year, it was 3.6,” Perusko said.

(€1 = 7.54 kuna)

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