All business and distribution units are growing, and significant increases in the prices of raw materials, packaging materials, energy and services have had an expected impact on profitability
In the first nine months of 2022, Atlantic Grupa recorded sales of HRK 4.7 billion, which is a 10.8 percent increase compared to the same period of the previous year. Under the influence of significant price increases in the overall spectrum of business activities, earnings before interest, taxes, depreciation and amortization (EBITDA) decreased by 20.3 percent compared to the first nine months of 2021 and amount to HRK 532.2 million, while net profit decreased by 32.1 percent and amounts to HRK 271.3 million.
“In the first nine months of 2022, Atlantic Grupa continues to record a significant revenue growth despite the challenges we face, and the revenue growth was achieved in all business units and distribution units due primarily to excellent sales results. During the year, there was a significant increase in the prices of a large portion of our raw materials and packaging materials, logistics and other services and energy that we only partially cancelled out by increasing the selling prices, as we consider it appropriate that in the conditions of high inflation and strong impacts on the living standards of our consumers we absorb a significant portion of this. Accordingly, as expected, we are also recording lower levels of profitability. In the rest of the year, we also expect a smooth flow of production and supply to our customers and consumers, but the continued problems in supply chains, the increase in interest rates, the record high inflation and the global uncertainty will postpone the expected beginning of profit margins recovery for 2024”, Emil Tedeschi, CEO of Atlantic Grupa pointed out.
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Source of information:
Atlantic Grupa Inc.
Miramarska 23, 10000 Zagreb
Informacije investitorima:
tel: +385 1 2413 145
fax: +385 1 2413 901
e-mail: ir@atlantic.hr
web: www.atlantic.hr