In the first half of 2024, Atlantic Grupa recorded sales of EUR 512.5 million, which is an 11.5 percent increase compared to the same period of the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 29.2 percent, to EUR 57.4 million, while net profit increased by 16.5 percent and amounts to EUR 24.4 million.
“Atlantic Grupa continues to record excellent business results, with profitability growth exceeding strong sales growth achieved in almost all business and distribution units. Despite an increase in the prices of cocoa and raw coffee, higher investment in employees and marketing activities, sales results enabled a strong growth in profitability. This year was marked by the acquisition of the company Strauss Adriatic, and the progress of its integration into Atlantic Grupa once again proves the company’s experience in acquisitions and post-acquisition synergies. We are especially pleased with the awards for the ESG leader in Slovenia and Serbia, which once again confirm our commitment to sustainable development. We continue with intensive capital expenditure and innovation, in particular the launch of Argeta Meatless and Boom Box smoothies and crackers. In the period ahead, we remain focused on further successful and sustainable growth”, Emil Tedeschi, CEO of Atlantic Grupa pointed out.
Coffee, Beverages and Savoury Spreads leaders in growth
The most significant growth was recorded by the Strategic Business Units (SBU) Coffee (19.2 percent), Beverages (10.2 percent) and Savoury Spreads (10.1 percent). Coffee, as the largest individual category, accounts for 21.8 percent share in total sales. In terms of distribution, the Strategic Distribution Unit (SDU) North Macedonia leads with a growth of 12.4 percent, followed by Croatia with a 9.3 percent growth. In Atlantic Grupa’s total sales, own brands account for 63.2 percent, pharmacy business accounts for 9.0 percent, while principal brands account for 27.8 percent of sales.
Key business achievements
In the first half of 2024, Atlantic Grupa had several key business achievements. The acquisition of Strauss Adriatic was completed, which added the Doncafe and C kafa brands to the portfolio, along with a modern production facility in Šimanovci and 220 employees. The company was recognized as the ESG leader in Slovenia and Serbia, winning awards for the transition to a circular economy and educational programmes, and received the “Equal Pay Champion” certificate, which is awarded to companies that are dedicated to equal pay for their employees for equal work, and to equal career opportunities, regardless of gender.
Cedevita published its first separate sustainability report, while Atlantic Grupa’s annual report was prepared for the first time according to the European Sustainability Reporting Standards (ESRS), making Atlantic Grupa one of the first in the region to apply these standards. Argeta launched a line of meatless spreads, awarded with the Superior Taste Awards certificate, while Smoki switched to sunflower oil and received Vegan and Halal certificates. Boom Box has expanded its range with new smoothies and salty mini crackers.
Atlantic Trade Zagreb has automated the warehouse in Vukovina with advanced 2D shuttle technology, which enables the storage of full pallets and full integration with all existing digital solutions. It is a new warehouse automation technology that the company introduced among the first in this part of Europe.
As part of the ownership transformation of the company Fortenova grupa, based on the Settlement concluded in the procedure of the extraordinary administration over the company Agrokor d.d., and the Supplier Loan Memorandum, on 16 July 2024, Atlantic Grupa collected EUR 7.1 million of Agrokor’s borderline debt and the associated interest in the amount of EUR 1.5 million. Based on the decision of the company’s General Assembly, a dividend of EUR 1.20 per share was distributed, which is more than 50% of the consolidated annual profit, which additionally confirms the stability and continuation of the last-year’s business success of Atlantic Grupa in the first half of 2024.
Corporate communications,
Atlantic
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