You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Slovenia’s Intereuropa Q1 cons net profit falls 36% y/y

Author Iskra Pavlova
Slovenia’s Intereuropa Q1 cons net profit falls 36% y/y Author: Intereuropa. License: All rights reserved.

LJUBLJANA (Slovenia), May 22 (SeeNews) – Slovenian logistics company Intereuropa [LJE:IEKG] said its consolidated net profit fell 36% on the year to 515,000 euro ($562,000) in the first quarter of 2020, as a result of the coronavirus pandemic.

Sales revenue declined by an annual 3% to 38.4 million euro in January-March, and earnings before interest, taxes, depreciation and amortisation (EBITDA) also fell 3% to 3 million euro, Intereuropa said in a statement filed with the Ljubljana Stock Exchange on Thursday.

"Since the middle of March, the impact on the Intereuropa Group’s operations has been seen in a drop in sales revenue in all areas of operations. That drop is expected to continue in the coming months," the company said.

It added that the payment habits of certain customers have also deteriorated somewhat due to the epidemic.

Intereuropa has subsidiaries in Croatia, Serbia, Bosnia and Herzegovina, North Macedonia, Ukraine, Kosovo, Albania and Montenegro.

In November, Posta Slovenije completed the purchase of 72.13% of all shares issued by Intereuropa, the logistics group said back then.

Intereuropa’s shares last traded on the Ljubljana bourse on May 15, closing at 1.42 euro, bourse data showed without providing details on the price change.

($=0.917113 euro)