Business news

Unior group revenue up, profit down last year

Ljubljana, 31 March (STA) - Tool maker group Unior saw its revenue rise by 3% to EUR 256 million last year, continuing a multi-year trend. Net profit dropped by 14% to EUR 10.4 million.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by almost 6% to EUR 32 million. Earnings before tax (EBIT) were up from EUR 15 million to EUR 16 million.

The group's operations were marked by unpredictable and changeable economic growth, which mostly affected the operations of its forging plants in Croatia and China, which failed to reach their targets and posted worse results than in 2018.

The tourism division, which has been separated from the core company, continued improving its results last year and finally broke even after several years in the red.

The core company's sales revenue grew by 1.7% to over EUR 175 million, which is a new record in its hundred-year history.

Net profit topped EUR 6 million, which is about half a million less than in 2018, when business results were boosted by the sale of the company RTC Krvavec, a share in Rhydcon and several pieces of real estate, worth EUR 2 million.

The supervisors of the company, which has significantly reduced its capabilities because of the coronavirus epidemic, confirmed the 10 June date for the AGM at their meeting on Monday.

They also got acquainted with the measures introduced during the epidemic and the trends for this year. The supervisors decided to give up at least 30% of their pay during the epidemic.