Business News

Intereuropa H1 Revenue Down Y/Y

Koper, 28 August (STA) - Logistics group Intereuropa posted EUR 70.7m in revenue in the first half of the year which was 14% less than in the same period last year. Net profit dropped to EUR 91,000 in the first half of the year compared to EUR 2.5m a year ago, according to a business report discussed by the parent company's supervisors on Thursday.

The drop in income is attributed to a 60% reduction in revenue from customs services following Croatia's becoming EU member.

Earnings before interest, tax, depreciation and amortisation (EBITDA) were also down year-on-year, dropping EUR 8.7m to EUR 5.8%.

The group had EUR 307m in assets at the end of June and EUR 153m in capital, while its debt was at EUR 88.6m, down from EUR 91.9m at the beginning of the year.

The parent company meanwhile posted EUR 44.9m in revenue in the first six months, an improvement over the same period in 2013, when its revenue was at EUR 47.2m. The company's EBITDA was down to EUR 3.6m from EUR 4.5m year-on-year, while profit dropped from EUR 1.33m to EUR 1.13m.

The uncertainty in Ukraine and severe weather in Slovenia and parts of the Balkans in the first half of the year have also had a detrimental effect on Intereuropa's business results.

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