Audit Found: Agrokor Had a Loss of Almost 4 Billion KM in 2016

The former management of Ivica Todorić announced last year that the Agrokor concern had a profit of 1.2 billion kuna (300 million KM) in 2015. The audit has now determined that the concern had a loss that year, which rose to a high of 15 billion kuna, almost 4 million KM, in 2016. These figures will be released by the extraordinary administration on Friday, and if the court also releases the claims by then, the exact amount of debt will be known, writes Večernji list, reported by Patria News Agency.

According to the latest data from the extraordinary administration, that debt was 40.3 billion kuna, and it will be only slightly higher in the new report. The auditors have thus completed months of work in determining various accounting omissions that led to the devastating figures. Representatives of the State Attorney's Office (DORH) have been present at the concern's headquarters since the beginning of the process, alongside the auditors, and their next move is anticipated.

As the audit report approaches, Todorić has been making statements via his blog, explaining that managements prepare reports based on their business policies, and that the choice of accounting procedures is based on the company's set business goals, development, and investments.

- The management led by the commissioner has different strategies and goals, so accounting methodologies are clearly being adapted - said Todorić.

He denied filing an anonymous report against Martina Dalić and Ante Ramljak. Agrokor states that the report, full of untruths, and blog posts are an attempt to divert public attention.

Ramljak said that the report against him is a smokescreen.

The main target of Todorić's defense will be his former associate Ivan Crnjac, Večernji learns.

He, according to Todorić, allegedly presented a poor situation to the public at the end of last year, which prevented access to the planned club loan, resulting in the activation of the law. This, he allegedly claims, could prove that he was forced to sign lex Agrokor.