ZAGREB, Oct 30 (Croatia Sun News) – In the first nine months of 2019, the Atlantic food group’s sales amounted to HRK 4.012 billion, an increase of 3.2 percent over the same period in 2018, while the net profit after minority interests was HRK 353.5 million or 11.6 percent higher than in the comparable period last year.
Earnings before interest and taxes (EBIT) were 8.3 percent higher and amounted to HRK 452.9 million.
The total increase in sales was mostly influenced by the strategic business units Savoury Spreads, which grew by 9.3 percent (HRK 565.8 million), and Beverages, which grew by 4.8 per cent (HRK 596.9 million).
With recorded sales of HRK 817.8 million and a 20.4 percent share in total income, Coffee stands out as the biggest individual category, the company said.
Own brands make up 64.9 percent of total sales, principal brands in distribution stand at 26.8 percent, while the Farmacia chain of pharmacies contributes 8.3 percent to the total income.
“Atlantic Grupa’s business operations in the first nine months have been characterised by continued income and profitability growth in most business segments and markets. We have also continued implementing our strategy of divesting non-core business operations by disposing of the Sports and Functional Food segment and focusing more strongly on areas that represent our key growth drivers and the cornerstone for our future transformation. This includes a targeted internationalisation of brands that have proven their international potential and the use of distribution development to leverage business growth, as well as mergers and takeovers,” said Emil Tedeschi, President of the Management Board.
He noted that the company had seen not only record-breaking values of shares but also of dividends per share in the first nine months.
At the end of March, Atlantic Grupa opened a new, state-of-the-art logistics and distribution centre near the town of Velika Gorica, which will provide adequate logistics support for the long-term development of the company’s distribution operations, the company said.