21st Austria weekly - Addiko, DO & CO (08/08/2024)

Addiko: Addiko Group, a Consumer and SME specialist bank active across Central and South-Eastern Europe (CSEE), achieved a profit after tax of €25.5m in the first half 2024 driven by solid business development and focused cost management. The result was impacted by one-off costs related to the takeover bids and amounting to €2.9m in 1H24. The 1H24 result marks an improvement of 31% over the previous year or 45% excluding these one-off costs. "Our performance in the first half of 2024 highlights our strategic vision and operational excellence. We achieved a net profit of EUR 25.5 million, an improvement of 31% compared to the previous year. The growth in our focus area of consumer financing was particularly strong compared to the market while we continued to maintain our premium pricing strategy,” said Chief Executive Officer Herbert Juranek. “In addition to the normal course of business, the Group Management Board was occupied with activities related to the recent shareholder announcements and takeover bids, which affected the operational business to a certain extent and caused unplanned one-off costs. Whatever the outcome, we are confident in our business model and in our team. We look forward to the second half of the year remaining focused on leveraging our strengths and exploring new growth opportunities".
Addiko Bank: weekly performance: -1.87%

DO & CO: Catering-Company DO & CO has benefited from increased demand across all divisions. With revenues of € 551.47m (PY: € 400.88m) DO & CO is reporting the strongest quarter in terms of revenue in the Company’s history and is on course for further success. The EBITDA of the DO & CO Group was € 55.15m (PY: € 43.26m) in the first quarter of the business year 2024/2025. The EBITDA margin was 10.0% (PY: 10.8%). The net profit attributable to the shareholders of DO & CO (net result) amounts to € 18.60m (PY: € 15.45m). In the first quarter of the business year 2024/2025 a high amount of cash and cash equivalents amounting to € 254.67m was once again reported.
DO&CO: weekly performance: 1.23%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (08/08/2024)

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