Podravka (PODR) Q4 2024 earnings summary

Executive summary

• Sales revenues increased by 7.4% to EUR 766.5m, with growth in both Food and Pharmaceuticals segments and nearly all business units and regions.

• All regions reported sales growth, with the strongest gains in Western Europe and Overseas (up to 31.6%).

• Profitability improved significantly, with normalized net profit after minority interests up 36.1% and normalized net profit up 51.4%.

• Major acquisition of Fortenova Group's agricultural segment completed, establishing agriculture as a third business pillar.

• EUR 250m investment cycle concluded, including new logistics center, factories, and sustainability initiatives.

Financial highlights

• Group sales revenue reached EUR 766.5m, up 7.4% year-over-year; gross profit rose 17.2% to EUR 291.6m.

• EBITDA increased 44.8% to EUR 53.0m; normalized EBITDA up 43.2% to EUR 51.7m.

• Normalized net profit after minority interests was EUR 64.2m, up 36.1% year-over-year.

• Reported earnings per share increased 10.9% to 10.5 EUR; normalized EPS up 35.6% to 9.1 EUR.

• Total assets grew 11.2% to EUR 586.1m; property, plant, and equipment up 20.0%.

Outlook and guidance

• Capital expenditures for 2025 are expected to be nearly EUR 39.0m.

• New agricultural segment expected to drive further growth and supply chain stability.

• Continued investment in modernization, sustainability, and digitalization planned, including further solar power expansion.