Petrokemija carries out overhaul of its plants

Petrokemija, a major Croatian producer of artificial fertilisers, stated on Tuesday that it had carried out a thorough overhaul and streamlining of its manufacturing plants.

The entire project, worth 110 million kuna, included the construction of a new HRK 45-million gas pipeline to provide natural gas to the plants of this Kutina-headquartered company.

The project has been co-financed by the Croatian Bank for Reconstruction and Development (HBOR), according to a press release issued on Tuesday.

In late July, the Petrokemija Group stated that it made HRK 921,000 in profits in the first half of 2016, the first time it earned a profit in the first six months of a year since 2011, when it had posted a loss of HRK 11.6 million.

In H1 2016, the group's revenues totalled HRK 1.06 billion, down 19.1 percent from the first half of 2015, while expenditures totalled HRK 1.059 billion, down 20%.

Earnings before interest, taxes, depreciation, and amortisation amounted to HRK 58.4 million.

The group manufactured 550,000 tonnes of mineral fertiliser, down 5%. Domestic sales accounted for 28.8% of the revenues (HRK 304.5m), down 38.4% from the first six months of 2015, while exports generated 67.7% of the revenues (HRK 715.9m), down 7.9%.

The group has 1,742 employees on its payroll.

Investments amounted to HRK 74.6 million, HRK 39.1 million more than in the first half of 2015.

(EUR 1= HRK 7.5)

Last update: Tue, 16/08/2016 - 13:30


Approved EUR 27M loan to Petrokemija


Saturday, August 27, 2016 - 18:18

Petrokemija increases revenues, reduces loss


Wednesday, February 17, 2016 - 10:40

More from Business

Volkswagen files recall plan for 3-litre cars in emissions case

Volkswagen on Monday met a deadline for submitting a revised recall plan for 3-litre engine diesel cars caught up in...

Croatian inventors win 11 medals at London show

Six Croatian inventors and entrepreneurs won 11 medals at the British Invention Show (BIS), with Tomislav Bronzin of...

AT&T tops Bayer: the five biggest mega deals of 2016

With AT&T's offer worth over 100 billion dollars for media giant Time Warner, the US telecom firm has surpassed...

AT&T to buy Time Warner in 85.4-billion-dollar deal

Telecommunications giant AT&T on Saturday said it would buy entertainment group Time Warner in a deal worth 85.4...

AT&T agrees to buy Time Warner, reports say

Telecommunications giant AT&T has agreed to buy media conglomerate Time Warner in a deal worth 80 billion...