Hrastnik, 20 March (STA) - Glass maker Steklarna Hrastnik recorded another successful year, generating EUR 60.5m in total revenue in 2018, a 5% increase compared to the year before. Its net profit rose by 18% year-on-year, amounting to EUR 7.8m, the company reported on Wednesday.
The group's operating gross earnings before interest, taxes, depreciation and amortisation (EBITDA) were up by 12% to EUR 14.1m. Gross profit reached EUR 8.8m, a 14% increase on 2017.
"Steklarna Hrastnik had another successful year despite a 15% year-on-year increase in electricity and gas costs and even though monthly labour cost per employee rose by almost a tenth to amount to EUR 2,077 last year. Added value per employee grew by 13%, reaching EUR 46,683," said the company's CEO Peter Čas, attributing the group's good results also to increased investment in employees' training.
The company's growth has continued in the first three months of 2019, with Steklarna Hrastnik expecting to generate EUR 16.2m in revenue, an 8% increase on last year's first trimester.
EBITDA is expected to go up by 19% compared to last year's first quarter, amounting to EUR 4m, while the company's pre-tax profit is expected to increase by 21% to EUR 2.6m.
The group has extended its network across key markets, including France, the UK, and the US, where its subsidiaries have strengthened relations with trademark owners.
They are also satisfied with the market's positive reaction to their own collections of packaging glass HighGlass parfumes and HighGlass spirits.
Steklarna Hrastnik is already transitioning to Industry 4.0 by implementing a strategy devised in cooperation with Siemens.
The majority of last year's investments, estimated at EUR 9.2m - almost double the amount invested the year before, was used for digitalisation, robotisation and automation of manufacturing processes.