Despite all the challenges due to the COVID-19 disease pandemic, the Kraš Group continued its successful business trend in 2021, as shown by the results for the first quarter of 2021 with consolidated total revenues of HRK 237.8 million. This is an increase of HRK 20 million, or 9.2 percent compared to the same period last year. After covering total operating expenses, profit before tax amounted to HRK 10.35 million, while net profit amounted to HRK 7.34 million.

"First of all, I would like to thank every employee of the Kraš Group for their contribution to achieving such financial results, which we can be satisfied with, especially considering the circumstances we faced during 2020, which will continue this year. We can be especially proud of the fact that we are achieving growth in all categories, thanks in large part to the fact that last year we recognized opportunities and made progress in all business segments. In the year in which we celebrate 110 years of business, we continue with activities aimed at strengthening business and increasing competitiveness, to the satisfaction of our employees, business partners, and shareholders", said Slavko Ledić, President of the Management Board of Kraš.

Increase sales revenue as well as volume
In the total revenues of the first quarter of 2021, sales revenues amounted to HRK 234.1 million, other operating revenues amounted to HRK 1.4 million, and financial revenues amounted to HRK 2.3 million. Compared to last year, sales revenues also increased on the domestic market, amounting to HRK 122.4 million with an increase of 6.5 percent, and abroad, for HRK 111.7 million, or 12.9 percent more than to 2020. Despite the further strong impact of the pandemic on business, total sales increased by 10.5 percent, or 774 tons compared to the same period last year, and amounted to 8,161 tons. The domestic market grew by 3.5 percent, and the foreign market by as much as 19.3 percent, with the vast majority of major export markets achieving sales results at or even higher than in 2020.
At the beginning of this year, the Kraš Group entered into cooperation with a new distributor in four markets in the region to improve sales and operations.

Sales growth in all categories, mostly in cocoa products
Viewed by categories, the largest sales growth was recorded in the range of cocoa products, which with 18.5 percent growth is also a generator of sales revenue growth. The assortment of biscuits and waffles grew by 15.4 percent, and candy by 11.7 percent, while sales of the assortment from the Mira Prijedor factory by 7.7 percent and Karolina Osijek by 0.9 percent also increased.

Increased revenues and profits compared to 2019
In addition to the financial results for the first quarter of 2021, the Kraš Group also published audited consolidated and non-consolidated financial statements for 2020, according to which an increase in total revenues compared to the previous year by HRK 5 million is visible. The Kraš Group thus recorded revenue in the pandemic year 2020 of HRK 1,042.5 million, and after covering total operating expenses, a profit before tax of HRK 25.34 million was generated, while net profit amounted to HRK 25.14 million.

The retained sales level in 2020, growth in Western Europe
In total revenues in 2020, realized sales revenues amount to HRK 972.5 million, other operating revenues to HRK 58.4 million, while financial revenues to HRK 11.6 million. The strong impact of the pandemic, but also the earthquakes in Zagreb and the Banovina, which further hampered production, distribution, and other business processes, did not prevent the Group in 2020 to maintain the level of sales from a year earlier in the vast majority of major export markets. At the same time, the Western European market recorded a growth of 15.6 percent compared to 2019, while the total sales volume on the domestic market increased by 306 tons or 1.6 percent.

In 2020, the Kraš Group recorded an increase in its business activity in terms of growth in total revenues, growth in production and sales volumes as well as increased investment activities. EBITDA of HRK 97 million was realized.