March 1 (SeeNews) - Croatia's Atlantic Grupa [ZSE:ATGR-R-A] said its consolidated net profit fell 12.3% on the year to 342.3 million kuna ($54.4 million/45.2 million euro) in 2020 due to measures taken to prevent the COVID-19 spread.
"After the initial positive impact from stockpiling in households, in the second quarter, negative consequences of pandemic prevention measures came to the fore," the group said in an annual financial report last week.
Total sales revenue fell 3.3% on the year to 5.25 billion kuna in 2020, while earnings before interest, tax, depreciation and amortisation (EBITDA) decreased 8% to 716.5 million kuna.
In terms of the group's individual markets, sales in Croatia decreased by 8.5% year-on-year in 2020, generating 33% of the company's total revenue. Sales in Bosnia fell 9.8% and had a 7.4% share in total revenue. Sales in Serbia lost 3.3% and contributed 24% to total revenue, while sales in Slovenia increased by 4.1% and contributed 19%.
Sales on other regional markets lost 0.1% last year, generating 8% of total sales. Atlantic Grupa saw a 14% growth in sales on key European markets, where 4.8% of its overall revenue was sourced. Sales in Russia and the Commonwealth of Independent States shrank 11%, contributing 2.7% of total revenue, while sales on other markets rose 15.6% and contributed 1.9% of the total result.
Atlantic Grupa is a regional distributor of fast-moving consumer goods and a producer of functional foods and supplements. It also owns a pharmacy chain in Croatia.
(1 euro = 7.5722 kuna)