ZK Pelagonija AD Bitola

ZK Pelagonija AD Bitola maintains a conservative capital structure with a debt-to-equity ratio of 0.14, significantly below the industry median of 0.45, indicating a low reliance on debt financing. The company's liquidity position is moderate, with a current ratio of 1.46, which is in line with the industry median of 1.50. However, the company's cash and equivalents of MKD 8.66 million are insufficient to cover its long-term debt of MKD 584.09 million, resulting in a net cash deficit. Profitability metrics show a weak return on equity (ROE) of 1.00%, far below the industry median of 8.50%, and a return on assets (ROA) of 0.75%, which is also below the median of 2.25% for the Fishing & Farming industry. The company's operating margin of 7.50% is slightly above the industry median of 6.80%, but its net margin of 3.17% is below the median of 4.20%, suggesting inefficiencies in cost management or pricing power. The company's revenue is concentrated in its domestic operations, with no disclosed international revenue streams. It operates through two wholly owned subsidiaries, Pelagonija Razvoj 2009 DOOEL Mogila and Pelagonija Vet DOOEL Kravari, which are engaged in agricultural development and veterinary services, respectively. The lack of geographic diversification increases exposure to local economic and regulatory risks. ZK Pelagonija AD Bitola's growth trajectory is modest, with a projected revenue increase of 2.5% in the current fiscal year and 3.0% in the next fiscal year. This growth is driven by incremental improvements in crop yields and livestock management, but the company has not disclosed any major expansion plans or new product launches. The company's capital expenditure of MKD -29.57 million in the latest period indicates a reduction in investment, which may limit future growth potential. The company's risk profile is characterized by moderate liquidity risk and low dilution potential. The key risk flag is the net cash deficit after subtracting total debt, which could constrain the company's ability to fund operations or invest in growth opportunities. The company has not disclosed any recent share issuance or dilution events, and its diluted shares outstanding remain unchanged at 200,008. Recent events include the company's 2023 annual report filing, which provides an overview of its financial performance and operational activities. The report highlights the company's focus on sustainable agricultural practices and the maintenance of its vehicle and equipment fleet to support its operations. No material legal or regulatory issues were disclosed in the latest filings.