In the period January - September 2016
Đuro Đaković group realised the revenue of HRK 447.8 million, and
expenses in the amount of HRK 458.3, respectively. The net loss amounted to HRK
10.4 million, and EBITDA (earnings before amortization, financial income and
expenses and tax) was positive by HRK 14.4 million or 3.2%. Comparing the
reporting period with the same period in 2015, the revenues increased by HRK 120.3
million, or 37%, while EBITDA is increased by HRK 30.8 million. The Group realised
a positive net result for the second quarter in a row, which amounted to HRK 395,000
in the third quarter.
The group managed to realize the most of
its operating goals set for the third quarter of 2016. The revenue were
realised at the level of the planned one, while the net loss was lower than
planned due to a shift in the beginningof the production of armoured combat vehicles for the client Patria Land
Systems. The structure of the loss is determined by insufficient engagement in
the company ĐĐ Specijalna vozila d.d.in the first quarter of 2016, which recorded a net loss of HRK 12 million, as
it was anticipated by the plan too. Other companies have managed to stop the loss
generators (negative production calculations and losses on large projects) and realised
a positive EBITDA.
As of 30 June 2016, the value of the
signed contracts of the group Đuro Đaković Holding amounted to HRK 559 million.
Taking into account the full engagement of
the capacities and the profitability of the contracted jobs, in all the companies
in group, a continuation of positive trends in the group is expected until
the end of the year.
Đaković group achieved a positive net result for the second quarter in a row,
which proves that performed restructuring gives full effects. When you add that
the share of the segment of Defence, as the most profitable part of the
business, is very low, it is clear that there is great growth potential. In
order to achieve the full potential of the group, ensure the growth of
contracted projects, given HRK 97 million paid-up capital less than planned
during the recapitalization two years ago, it is necessary that the Group
significantly improve funding sources as soon as possible by collecting fresh
capital in the market, "said Tomislav Mazal, President of Management Board
of Đuro Đaković Group Plc.