This undergraduate thesis presents a financial analysis of three leading companies in the Slovenian dairy processing industry: Ljubljanske mlekarne, Mlekarna Celeia and Pomurske mlekarne, over the period from 2020 to 2024. The thesis also considers the main external economic factors that influenced the companies’ performance, including the COVID-19 pandemic, the war in Ukraine, the energy crisis and high inflation. The financial analysis of each company was based on its balance sheet, income statement and cash flow statement, using data from annual reports and the eBonitete database. The analysis was further supported by selected financial ratios, which enabled a more comprehensive comparison of the three companies. The final part of the thesis also examines the companies’ sustainable development, focusing on their sustainability reporting as well as the projects and measures implemented in this area. The results of the financial analysis show that the companies differed mainly in terms of business stability, financing structure and sensitivity to external economic factors. Ljubljanske mlekarne demonstrated the most stable performance throughout the analysed period, while Pomurske mlekarne and Mlekarna Celeia experienced greater fluctuations in profitability and financial results. The most significant deterioration in performance was observed in all three companies in 2021. Performance improved over the following two years, while in 2024 the financial results deteriorated slightly again. The sustainability analysis showed that all three companies undertake activities related to environmental, social and governance aspects of sustainability. Ljubljanske mlekarne report on their sustainability activities in greater detail and more frequently support them with specific data, while Mlekarna Celeia and Pomurske mlekarne place greater emphasis on projects and investments aimed at modernising production, improving its efficiency and reducing environmental impacts.
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