Petrokemija increases revenues, reduces loss

The maker of artificial fertilisers Petrokemija in 2015 earned revenues in the amount of HRK 2.58 billion, 14.8% more than the year before, and after taxation it recorded a loss of HRK 93.2 million.

The loss is lower than in 2014, when it totalled HRK 463 million.

Despite an overhaul of its production units, last year Petrokemija produced 1,211 tonnes of mineral fertilisers, up 11.5% compared to 2014.

The company sold 1,152 tonnes of mineral fertilisers, 10% more than in 2014, with domestic sales accounting for 25% of the total sales.

Despite the fact that HRK 253 million was collected in a previous recapitalisation round, indicators of current liquidity are below the recommended value. The report notes that the group's working capital is negative, totalling HRK 358 million. Current assets dropped 10.6% compared to 2014, and current liabilities dropped 4.9%.

Financial stability indicators are also below the recommended values, while indicators of indebtedness and own financing deteriorated from 2014.

Investments increased 33.7% to HRK 53.3 million. The group employed 1,762 workers, with the Petrokemija company employing 1,617 of the total number or 22% less than in late 2014.

Last update: Wed, 17/02/2016 - 13:36
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