Ledo joint-stock company for the production and marketing of ice cream and frozen foods, Zagreb, Čavićeva 1a, MBS: 080002964, OIB: 87955947581, responsible person: Dario Vrabec, (hereinafter: Issuer), pursuant to Article 464 of the Capital Market Act and Article 19 (1) of Regulation (EU) No. 596/2014 on market abuse and Article 2 of the Commission’s Implementing Regulation (EU) 2016/523, informs of the following:
Pursuant to Article 12 paragraph 9 of the Act on Extraordinary Administration Procedure in Companies of Systemic Importance for the Republic of Croatia, the Extraordinary Commissioner is obliged to submit a monthly report on the economic and financial condition of the companies which are a part of the procedure of extraordinary administration, including the Issuer.
Therefore, the Issuer hereby simultaneously notifies the public about the business results and financial information from the aforementioned Extraordinary Commissioner's report relating to the Issuer for the first nine months of the year 2017.
1.1.1.1. Financial results from the beginning of the year and key financial performance indicators
In this respect, the Issuer informs the public as follows:
|
Financial results * |
I-IX 2017 (mil. HRK ) |
|
REVENUE |
896 |
|
EBITDA |
209 |
|
EBITDA % |
23,3% |
|
Key financial performance indicators |
I-IX 2017 |
|
Gross margin % |
44,6% |
|
Days of collection of receivables |
79 days |
|
Inventory days |
70 days |
*Note: estimated results
1.1.1.2. Comments on the current business activities
Ice cream – 28% decrease of sale due to to bad weather compared to last September 2016.
Frozen food - return on market, an increase of 19% compared the same period last year.
During September Ledo introduced Grandissimo relaunched line of premium ice cream on market. New recipe and design were supported by TV communication and event in the city centre
The EBITDA margin in September 2017 is stable, slightly decreased by 0.5pp compared to the previous year due to lower sales of ice cream.
Days Sales Outstanding have been reduced from 87 days to 79 days compared to last month.
Days Inventory Outstanding have been reduced from 72 days to 70 days compared to last month due to increased inventory turnover.
The Issuer acknowledges that it will continue to notify of any further actions or decisions made in the restructuring process, which are deemed to be proprietary information in accordance with the applicable regulations.
Ledo d.d. Zagreb
Source of information:
Ledo d.d.
Marijana Čavića 1a
10000 Zagreb
Telefon: 01 2385 723
Telefax: 01 2385 686
e-mail: financije@ledo.hr
web: www.ledo.hr
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