Net Profit of Atlantic Group 217.5 Million Kuna

Atlantic Group recorded a sales revenue of 2.7 billion kuna in the first half of 2021, which represents a growth of 9.7 percent compared to the same period last year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to 387.2 million kuna, which is 6.7 percent higher than in the first half of last year, excluding one-off items. The company achieved a net profit of 217.5 million kuna, representing an 18 percent increase when excluding one-off items.

– Atlantic Group achieved growth in all business and distribution areas in the first half of 2021, which, compared to the same period last year, is also a result of a better epidemiological situation in all markets and the easing of pandemic containment measures. We are particularly proud of the fact that, despite all challenges, we achieved organic sales growth of nearly 9 percent compared to the first half of 2019 – the year in which we had historically highest revenues. We also recorded a new highest share price and paid out the historically highest dividend. We are aware that the upcoming period will also be epidemiologically challenging, with our priorities remaining the same: the health and safety of our employees, ensuring uninterrupted production, and continuous supply to our customers and consumers, as well as social responsibility in the broadest sense –  commented CEO Emil Tedeschi.

Beverages, Donat, and Coffee Lead Sales Growth

The best result among business areas was achieved by the strategic business area of Beverages, whose leading brand Cedevita grew by 16.1 percent, Donat grew by 15.8 percent, and Coffee, the largest individual category with a share of 20.5 percent in total revenue, and leading brands Barcaffe and Grand kafa, which grew by 10.3 percent. Among distribution areas, Croatia leads with a growth of 10.6 percent and Serbia with a growth of 9.7 percent. It is also worth noting that two new brands – chocolate Jimmy Fantastic and a range of oat-based products Boom Box, were successfully launched in March and April in the markets of Croatia and Slovenia, with excellent initial sales results and a bright market outlook.

New Factory and New Cooperation

Given the excellent business development and growth plans in the category of delicatessen spreads, Atlantic Group began investing in the construction of a new factory for products under the Argeta brand in March, located in the municipality of Kneginec near Varaždin. The total investment value of over 50 million euros will take place in several phases, and the new production facility is planned to be operational within 15 months from obtaining the building permit. The realization of all phases of the project is expected to create up to 150 new jobs. In July, Atlantic Group and Barry Callebaut, the world’s leading manufacturer of high-quality chocolate and cocoa products, signed a cooperation agreement that will enhance the production of Atlantic’s established portfolio in the chocolate assortment. Atlantic Štark is the first regional strategic partner of Barry Callebaut and its factory in Novi Sad, and this partnership confirms Atlantic’s focus on further developing key brands in essential categories.