An excellent start to the year with the completion of the acquisition of the company Strauss Adriatic and strong growth in sales and profitability In the first quarter of 2024, Atlantic Grupa recorded sales of EUR 236.6 million, which is a 9.8 percent increase compared to the same period of the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 20.3 percent, to EUR 25.2 million, while net profit increased by 3.2 percent and amounts to EUR 9.9 million.
“Excellent sales results at the beginning of the year enabled a strong growth in profitability despite a significant increase in the cocoa and raw coffee prices and logistics challenges that still persist, as well as higher investments in our people and marketing. By concluding the acquisition of Strauss Adriatic, we have confirmed Atlantic Grupa's strategic determination to strengthen our core business, specifically the growth of the coffee category and the strengthening of the competitiveness of the regional industry and local brands. We continue with significant capital investments, as well as innovations in the product portfolio, among which the launch of Argeta's meatless range stands out. Despite the challenging geopolitical and macroeconomic environment, we remain confident that we will continue the growth of our business, in a sustainable manner”, Emil Tedeschi, CEO of Atlantic Grupa pointed out.
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Source of information:
Atlantic Grupa Inc,
Miramarska 23
Information for investors:
TEL.: +385 1 2413 322
FAX: +385 1 2413 901
E-MAIL: ir@atlantic.hr
WEB: www.atlanticgrupa.com