Atlantic Grupa Reports 4.4% Growth In First Three Quarters
Croatian food and beverage company Atlantic Grupa has recorded sales of €531.1 million in the first nine months of 2017 - a 4.4% increase on 2016.
The group's EBITDA amounted to €59.2 million (+5.1%), while net profit was €31.9 million (+2.8%). Croatian operations grew by 7.2%, while in neighbouring Serbia, growth stood at 3.7%.
Contributing to the positive result was the company's beverages unit, which experienced 8.1% growth, as well as savoury spreads (+7.9%), pharma and personal care (+6.8%), and snacks (+5.7%).
With a 20.1% share of total sales, coffee stands out as the company's largest individual category, with sales of €106.5 million so far this year.
The first nine months were also marked by the divestment of the company's sports nutrition segment, and an increased focus on the development of branded operations.
Problems with the group’s major retail customer, Agrokor, were offset by extended cooperation with other retail partners.
Between now and the end of the year, the company expects additional expansion of its distribution portfolio and continued stable growth of the overall business.
"Business growth, excellent liquidity management, and continued debt reduction provide us with an excellent basis for even faster and more robust growth," said Emil Tedeschi, CEO of Atlantic Grupa.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine