Zreče, 29 March (STA) - The group around the tool maker Unior generated EUR 246.5m in net sales revenues last year, up 3.1% compared to 2017, while more than doubling net profit to EUR 12.2m, according to the audited annual report release on Friday.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) dropped by 7.5% to EUR 30.2m.
Unior said in the report that the net profit for 2017 was lower due to revaluation of the assets of the ski resort operator RTC Krvavec at the end of that year due to a planned sale and their transfer to short-term assets for sale.
This had a negative effect of EUR 10.4m on the operating profit and net profit in 2017, the Zreče-based company explained.
The core company Unior last year increased its sales revenues by 4.3% to EUR 172.4m, while net profit was down 12.3% to EUR 6.8m and EBITDA was virtually flat at EUR 16.3m.
The report notes that the main reason for such result despite higher sales revenues were higher prices of steel and growth of labour costs.
The company's segment of pressed parts recorded a 10.4% growth in revenue, the hand tool programme saw sales increase by 2.1% and while the machine manufacturing segment saw a 20.9% drop in sales.