Atlantic Group’s Half-Year Net Profit Rises to €24.4 Million

Atlantic Grupa achieved a net profit of €24.4 million in the first half of the year, representing a growth of 16.5 percent compared to the same period last year, Atlantic announced on Thursday.

Sales revenue amounted to €512.5 million, which is an increase of 11.5 percent compared to the same period last year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 29.2 percent to €57.4 million.

The highest growth was recorded in the strategic business areas (SBAs) Coffee (19.2 percent), Beverages (10.2 percent), and Delicatessen Spreads (10.1 percent).

Coffee, as the largest individual category, contributes 21.8 percent to total revenue. In distribution, the Strategic Distribution Area (SDA) North Macedonia leads with a growth of 12.4 percent, followed by Croatia with a growth of 9.3 percent.

In total sales, Atlantic Group’s own brands account for 63.2 percent, pharmacy business 9.0 percent, while principal brands contribute 27.8 percent of sales revenue.

– Atlantic Group continues to achieve excellent business results, with profitability growth surpassing strong sales growth in almost all business and distribution areas – said Emil Tedeschi, CEO of Atlantic Group.

He noted that despite rising cocoa and raw coffee prices, and increased investments in employees and marketing activities, sales results enabled strong profitability growth.

The acquisition of Strauss Adriatic, he said, marked this year, and the progress of integration into Atlantic Group once again demonstrates the company’s experience in acquisitions and post-acquisition synergies.

– We continue with intensive capital investments and innovations, with a special focus on launching Argeta Meatless and Boom Box smoothies and crackers. We remain focused on further successful and sustainable growth in the upcoming period – emphasized Tedeschi.

The statement also mentions that within the ownership transformation of Fortenova Group, based on the Agreement concluded in the extraordinary administration process over Agrokor d.d., and the Supplier Loan Record, on July 16, 2024, Atlantic Group collected €7.1 million of Agrokor’s boundary debt and the corresponding interest of €1.5 million.

Additionally, based on the decision of the company’s Assembly, a dividend of €1.20 per share was paid, which constitutes more than 50 percent of the consolidated annual profit, further confirming the stability and continuation of last year’s business success of Atlantic Group in the first half of this year.