Revenue and business results increase of Victoria Group in the first half of 2015
Victoria Group achieved a revenue of EUR 191.4 million in the first half of 2015, a 31.5% increase compared to the same period last year. Sales revenue saw an identical increase and exports alone increased by 26%, amounting to more than EUR 78 million. In this way, the company has further strengthened its position as the leading net exporter in the food-processing sector in Serbia. Good business results have also been confirmed by EBITDA, which is nearly 100% higher compared with the period January-June 2014. During the first six months of this year, RSD 3.96 billion was paid to the Budget of the Republic of Serbia for taxes, contributions, and other duties.
“Excellent financial indicators for the first six months of this year are the result of increased productivity, certain changes in business and commercial policy, and business optimization, which started last year. Intense decennial investment cycle amounting to more than EUR 200 million enabled the increase and modernization of production capacities, as well as the enhancement of the product assortment with high finalization rate. In the upcoming period, the focus will be on further business development of the Sojaprotein factory and value added protein products for food industry. After the commissioning of the plant for the production of traditional soy concentrates less than three years ago, this year saw the positive effects of that investment. I would like to mention that we are one of the few manufacturers in the world with such a wide and diversified product portfolio for human and animal consumption, produced exclusively from genetically unmodified (NON-GMO) soybean.” said Chief Operations Officer Nikola Vujačić. “Since we deal with products quoted on worldwide stock exchanges and since we are present on more than 40 global markets which use different currencies, we have introduced goods and currency hedging. In 2015 alone, the profit based on hedging is nearing EUR 1 million. We expect an even larger increase of sales revenue in the second half of the year, and, consequently, larger business revenue as well.”