Mlinotest Sees Higher Sales, Profit Due to Strong Exports

By , 06 May 2019, 10:06 AM Business
Some of the company's familiar products Some of the company's familiar products www.mlinotest.si

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STA, 5 May 2019 - Mlinotest, the Ajdovščina-based bread and pasta company, is looking back at a successful year, having posted a solid growth in revenue and profit in 2018, mainly thanks to a strong growth in exports.

Mlinotest saw its profit rise by 18% to EUR 2m last year as revenue increased by 9% to EUR 55.9m, driven by a 22% growth in exports.

Commenting on the results, the company's CEO Danilo Kobal pointed out in particular good sales in Germany and Latin America, where they expect to expand further.

The core company generated around 20% of the sales in foreign markets, while the percentage of exports in group sales is a little bit higher still.

Its biggest export markets are Italy, Croatia, Columbia, Panama, Poland, Austria, Germany and France. Dry pasta is the number one export product, followed by products such as frozen bread and pastry.

"The first lorries of frozen confectionery have just been supplied to the second largest German grocer. We won the deal this year amid fierce competition. We place great hopes in it," Kobal said.

Over the past four years, the company invested more than EUR 4m annually in upgrading and expanding its production facilities. A further EUR 3m will be invested this year, half of which in bakery packaging automation.

This year, sales are projected to increase by 9% and net profit by 10%. "Three months into the year, I can say we are well on track to meet or even trump the targets," said Kobal.

The core company employs around 550 people and the entire group 670. Despite intensive automation and robotisation of production, Mlinotest is planning to open a few new jobs in coming years.

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