Slovak food industry generates EUR 114.5 m profits in 2018

The food industry in Slovakia generated 114.5 million euros before tax in 2018, up by 15.1 percent year-on-year, the farm ministry reported. Total revenues dropped by 0.8 percent y-o-y to 4.630 billion euros while costs fell by 1.1 percent y-o-y to 4.516 billion euros. The positive result was achieved mainly thanks to 216 businesses employing twenty or more employees. The result produced by these businesses alone went up by 18.2 percent y-o-y to 180.3 million euros. Out of the total number of businesses in the food industry, 75 percent of them were profitable and generated profit amounting to 217 million euros.