Atlantic Grupa achieved 31.2 million euros in net profit

Atlantic Grupa achieved a net profit of 31.2 million euros in 2023, representing a 20 percent increase compared to the previous year, the company announced on Tuesday.

Sales revenue in 2023 amounted to 973.9 million euros, which is a 15.1 percent increase compared to the previous year.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 13.3 percent compared to 2022, totaling 86.6 million euros, while net profit increased by 20 percent to 31.2 million euros.

– In an still unstable and challenging environment, Atlantic Grupa achieved strong sales growth across all business segments and in all major markets – emphasized the CEO of Atlantic Grupa Emil Tedeschi.

The excellent sales results, as he noted, also enabled strong profitability growth, despite still high costs of raw materials and packaging materials, logistics and other services, as well as significant investment in employees.

Tedeschi stated that they continued to invest in business development, including innovations in the product portfolio, modernization of production capacities, and the green and digital transformation of Atlantic Grupa, as well as efforts for growth through acquisitions.

– Although we expect the geopolitical and macroeconomic environment to remain challenging, we remain confident that we will continue to operate successfully and achieve sustainable growth – he emphasized.

In total sales, Atlantic Grupa’s own brands account for 62 percent, the pharmaceutical business 9 percent, while principal brands contribute 29 percent of sales revenue. Coffee stands out as the largest individual category with 199.9 million euros, or a share of 20.5 percent of total sales revenue.

Atlantic Grupa reminds that during 2023, they successfully launched the operation of two solar power plants, at the central logistics distribution center in Zagreb and at the production site in Rogaška Slatina.

Acquisition of Strauss Adriatic

Additionally, in October, a purchase agreement was signed with Strauss Group for the acquisition of Strauss Adriatic, and the completion of the transaction is subject to prior approval by the Competition Protection Commission in the Republic of Serbia.

In the distribution area, a collaboration was agreed with Podravka Group, which involves Atlantic’s distribution of Podravka products in the Austrian market and Podravka’s distribution of Atlantic’s assortment in the US market. In Slovenia, a significant breakthrough was achieved in distribution through collaboration with the new principal Haleon, while in Skopje, a 12 million euro investment in a new logistics distribution center was completed.

At the end of last year, Atlantic Grupa purchased the company Eurocenter d.o.o. from the real estate management agency S IMMO AG, which owns the Eurocenter business building on Miramarska Street in Zagreb, where the company’s long-standing headquarters is located.