Zwack Unicum: Higher Turnover, Lower Profit

Zwack Unicum Plc. achieved gross sales of HUF 31.58 billion in the first three quarters of the 2023-2024 financial year, up 3.4% year-on-year, while its profit after tax was HUF 3.2 billion, a 16.4% decrease, the company announced on the website of the Budapest Stock Exchange (BSE) on Tuesday.

According to the report, net sales (revenue excluding income tax and public health product tax) amounted to HUF 19.09 billion, up 5.4% on the base period.

Net sales in the domestic market were HUF 940 million higher than in the first three quarters of the previous financial year. Net sales of own-produced products on the domestic market increased by 8.0% to HUF 12.1 billion. Within this, sales of premium products increased by 7.6% and sales of quality products by 9.3% year-on-year.

According to the report, the decline in domestic sales also had a noticeable impact on the company's profitability. In the last three quarters, although sales rose, volumes fell by 2.5%.

It was reported that the turnover of products sold for export was HUF 1.747 billion, down 8.7% compared to the base period. Among the larger export markets, sales in Italy were flat, while Germany (down 24%) and Romania (down 3%) saw sales decline.

It was noted that the key quarter of the financial year was slightly ahead of plan, so that current expectations are that the year will end with a significantly below-balance but still significantly better than forecast.

Zwack Unicum shares are traded in the premium category of BSE. Over the past year, the lowest price was HUF 16,000 and the highest was HUF 21,200.