LJUBLJANA (Slovenia), April 19 (SeeNews) – Slovenian logistics group Intereuropa [LJE:IEKG] turned to a consolidated net profit of 4.8 million euro ($5.4 million) in 2018, from a net loss of 1.98 million euro the year before, the company said, citing audited data.
Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) totalled 12.8 million euro last year, slightly up from 12.7 million euro in 2017, Intereuropa said in its 2018 annual business report filed with the Ljubljana Stock Exchange late on Thursday.
The sales revenue rose 7.0% to 160.4 million euro, while investments in property, plants and equipment, and intangible assets totalled 5.4 million euro in 2018, the highest in recent years and double the 2.7 million euro investment in the previous year.
The sales revenue would have been even higher were it not for the harmful conduct of the former executive staff in Serbia, the statement noted, adding that the latter had a negative effect on EBITDA, which remained similar to the level recorded the previous year.
The performance in 2018 was characterised by growth in sales revenue and a reduction in debt, Intereuropa added.
Intereuropa group slashed its net debt by 10% to 60.2 million euro last year.
($ = 0.88815 euro)