Business News

Hidria's revenue up, profit down

Idrija, 12 October (STA) - Hidria Holding, a group which mostly manufactures hi-tech products for the car industry, finished 2018 with a net profit of EUR 12.3 million, down nearly 21% over 2017. Its net sales revenue meanwhile rose by 6.6% to EUR 266.1 million.

The Idrija-based group's operating profit dropped by nearly 16% to EUR 16.4 million, according to the company's financial statement, released on the AJPES agency website.

The group generated the bulk of net revenue, EUR 236.7 million, abroad up 6.3% from the previous year, with its EU sales accounting for EUR 218.3 million.

Hidria attributed the bottom line to "the expected cooling of the global economy in the second half of 2018", noting the exceptional growth from 2015 to mid-2018 had stopped.

While the fast growth had caused the group some unplanned costs in previous years, lower orders in the second half of last year helped it optimise production processes.

The bulk of the group's revenue came from the Hidria company, the net revenue of which rose by over 33% to EUR 220.1 million last year.

The company's net profit meanwhile dropped by over 15% to EUR 8.5 million.

The group Hidria Holding has six production companies, two centres of competence, and a segment covering finance, control, IT and R&D.

Together with investment arm HGR Naložbe, the group is part of a larger group H&R.

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