Atlantic Grupa reported a sales revenue of 236.6 million euros in the first quarter of 2024, representing a growth of 9.8 percent compared to the same period last year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 20.3 percent to 25.2 million euros, while net profit rose by 3.2 percent to 9.9 million euros.
– Excellent sales results at the beginning of the year enabled strong profitability growth despite significant increases in cocoa and raw coffee prices, ongoing logistical challenges, and rising investments in people and marketing. With the completion of the acquisition of Strauss Adriatica, we have confirmed Atlantic Grupa’s strategic commitment to strengthening our core business, specifically the growth of the coffee category and enhancing the competitiveness of the regional industry and local brands. We continue with significant capital investments and innovations in our product portfolio, highlighted by the launch of Argeta’s meatless range. Despite the challenging geopolitical and macroeconomic environment, we remain confident that we will continue to grow our business sustainably – emphasized the CEO of Atlantic Grupa Emil Tedeschi.
Drinks, Pharmacy, and Coffee lead the growth
The largest growth was achieved by the Strategic Business Areas (SBAs) Drinks (16.0 percent), Pharmacy (11.8 percent), and Coffee (9.4 percent). Coffee, as the largest individual category, contributes 20.1 percent to total revenue. In distribution, the Strategic Distribution Area (SDA) North Macedonia leads with a growth of 11.6 percent, followed by SDA Croatia with a growth of 10.6 percent and Serbia with a growth of 9.0 percent. In total sales, Atlantic Grupa’s own brands account for 61.9 percent, pharmacy business 9.5 percent, while principal brands contribute 28.6 percent of sales revenue.
On March 1, Atlantic Grupa completed the acquisition of Strauss Adriatica, the owner of Serbian coffee brands Doncafe and C kafa, which now join the regional leaders Grand kafa and Barcaffe. Atlantic also acquired a modern production facility in the industrial zone of Šimanovci near Belgrade and 220 employees, with the transaction previously conditionally approved by the Commission for Protection of Competition in the Republic of Serbia. A significant novelty in the production program was brought in the first quarter by Argeta with the launch of meat-flavored meatless spreads, in line with dietary trend developments.
