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Žito Group: Net profit for financial year 2013 exceeded plan

Ljubljana, 14th March, 2014 – At the session today the members of the supervisory board of Žito d.d. company familiarised themselves with the unaudited operating results for the financial year 2013. The Žito Group generated €111 million net sales revenues, €3.1 million operating profit and €2.2 million of net profit. By the unchanged revenue level Žito Group thus increased the net profit by 455% in comparison with the year 2012 . The Žito Group has generated 84% of all sales revenues in the domestic market and 16% on the foreign market. Furthermore, all key performance indicators have been improved in comparison to 2012. Here belong the following: return on revenue (ROR), return on capital (ROC), return on assets, the added value and EBITDA margin.

The Žito Group generated net profit totalling €2.2 million from the achieved €111 million net sales revenue, which is more than was planned (€1.9 million) and more than in 2012 when it totalled €0.4 million. Earnings before amortisation, interest and taxes (EBITDA) totalled €8.8 million and is higher by 15.7% compared to the year 2012. Thus EBITDA represents 7.8% share of gross operating profits and is higher by one percentage point compared to the year 2012.

The Žito d.d. company generated €103.7 million net sales revenue, €3.1 million operating profit and €2.5 million net profit.

Janez Bojc, the Chairman of the Management Board of the Žito Group expressed satisfaction with the achieved results that are even somewhat higher than was planned regardless of the fact that the revenue of the Žito Group in the year 2013 was significantly affected by the negative trends in the national economy and high prices of key Žito raw materials in the purchasing markets.

»Without customers who put trust in our products and motivated employees we could not have reached such results. Our customers on the Slovenian market confirm on a day-to-day basis that we produce excellent products since they awarded the BEST BUY product title to our Zlato polje Sport müslis and breakfast cereals, Maestro spices, Zlato polje rice, Žito rusks and breadsticks and for all fresh bakery products. This means that all specified products are considered by customers to be the best-quality products in their price range. Moreover, the customers on the Bosnia and Herzegovina and Croatia markets voted Zlato polje rices for the Best Buy product title. Last year we also succeeded with a major breakthrough in a number of foreign markets with our breads for final baking.

However, the quality of our products is every year confirmed not only by our customers but also by independent professional evaluation committees since according to the evaluation conducted by the Chamber of Commerce and Industry of Slovenia in 2013 we received the most, that is 13 awards among all baking companies for the quality of bread and bakery products. This year we doubled the number of award to a record 23 quality awards. Among the key accomplishments of the year 2013 belong also organisational changes with which the company achieves better efficiency and gives our employees greater responsibilities. We can also be proud of numerous socially responsible activities and support of the local environment in which we conduct business and operate,” was pointed out by Janez Bojc, Chairman of the Management Board, upon publication of consolidated unaudited business data for the year 2013.

Unaudited income statement and balance sheet of the Žito Group and Žito d.d. are available via the following link:

Unaudited income statement and balance sheet of the Žito Group and Žito d d 2013

Additional information:

Nina Rus Turuk,

Public relations, Žito Group

Phone: 003861 5876 120

e-mail: pr@zito.si

 

 

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