Metalac reported net profit drop in 1H 2014

Gornji Milanovac – based Metalac reported 1H 2014 consolidated numbers, which show Q1 declining business trend continues.

Consolidated profit totaled somewhat over RSD 3 billion (-7,3%), while sales came at RSD 2.9bn, flat y/y. Operating profit came in at RSD 182.4m, down 38.6% y/y while the same drop was recorded for the net profit which arrived at RSD 162.1m. When speaking about partial segments, the biggest fall in profitability arrived from enameled dishes and trade. When it comes o major dependent units within the system, Metalac posudje faced 22.9% y/y drop in sales (RSD 1,2 billion with 25% lower net profit at RSD 107.6m.

The main foreign market of Metalac, the Russian Federation, (Metrot), faced sales 11% y/y decrease to EUR 3,4 mil, while profit decrease by 71,3% to EUR 100.000. The Ukrainian business registered a big shock due to the well-known tensions in the country and generated loss of EUR 160.000.