ZAGREB, February 27, 2020 - Atlantic Grupa generated HRK 5.43 billion in sales revenue in 2019, an increase of 3.4% on the year, while net profit rose by 59.8% to HRK 390.4 million, the food company said in a financial statement on Thursday.
Operating profit (EBIT) in 2019 amounted to HRK 500.4 million, an increase of 36.4% compared with 2018.
Without one-off items and changes in accounting standards based on comparison, operating profit increased by 13.1% and net profit was up by 28.9%, the company said.
"Atlantic Grupa concluded 2109 with the historically highest revenue and profit. The year was exceptionally successful for us and we saw the year end as a stable, financial prosperous and low indebted company with an empowered management and a clear vision for the future," the company's CEO Emil Tedeschi said.
The increase in sales was mainly driven by the strategic business areas "Savoury Spreads", with a 7.7% growth, and "Beverages", with a 5.2% growth. With HRK 1.13 billion in sales and a 20.9% share in total revenues, "Coffee" stood out as the largest individual category.
All markets recorded growth in distribution operations, and the most significant growth was recorded on the Croatian market, of 8.2%, followed by increased sales in Slovenia, of 3.7%.
Own brands accounted for 64.1% of the total sales, the brands of the principals in distribution accounted for 27.5%, and the Farmacia pharmacy chain participated with 8.3%.
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