Atlantic Grupa achieved a net profit of 116.6 million kuna in the first half of this year, which is about 8 times more than in the same period last year, according to the consolidated, unaudited data released today by the company.
Total revenues in this period reached 2.48 billion kuna, which is an increase of 3.9 percent compared to the same period last year. At the same time, total expenses decreased by 0.9 percent, to 2.335 billion kuna.
Atlantic Grupa generated sales revenue of 2.42 billion kuna in the first half of the year, representing a growth of 3.3 percent compared to the same period last year.
Earnings before interest and taxes (EBIT) increased to 219.1 million kuna, up 5.2 percent compared to the same period last year, while net profit after minority interests amounted to 114.5 million kuna, thanks to significantly reduced interest costs following the successful refinancing of credit obligations, as stated in the announcement from Atlantic.
The overall growth in sales revenue for Atlantic Grupa was primarily driven by the strategic business areas of Sports and Active Nutrition, with a growth of 16.9 percent, where the most significant growth was achieved in the markets of Germany and Switzerland, as well as Health and Care, with a growth of 3.6 percent.
“Atlantic Grupa achieved sales revenue growth in the first half of the year, despite the challenging economic situation in the region and beyond. We are extremely pleased with the continuous organic growth of the business, especially the growth in sales revenue in the markets of Russia, the CIS, and key European markets, which confirms the successful strengthening of the position of Atlantic Grupa’s brands in international markets,” said Zoran Stanković, Vice President of Finance at Atlantic Grupa, in the announcement.
