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Croatia's Atlantic Grupa 9-mo cons net profit grows 11.6%

Croatia's Atlantic Grupa 9-mo cons net profit grows 11.6% Author: Atlantic Grupa. License: All rights reserved.

ZAGREB (Croatia), October 29 (SeeNews) - Croatia's Atlantic Grupa [ZSE:ATGR-R-A] said on Tuesday its consolidated net profit rose 11.6% on the year to 353.5 million kuna ($52.5 million/47.4 million euro) in the first nine months of 2019.

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 8.3% to 634.4 million kuna, due to the disinvestment of the non-profitable segment Sports and Functional Food and the higher sales of the strategic business units Beverages and Savoury Spreads, Atlantic Grupa said in an interim financial statement filed with the Zagreb Stock Exchange (ZSE). 

Total sales revenue added 3.2% on the year to 4.012 billion kuna in the nine months through September.

Sales in Croatia increased 8.9% year-on-year in the nine months through September, generating 35.3% of the company's total revenue. Sales in Bosnia grew 1.8% and had an 8.2% share in total revenue. Sales in Serbia edged down 0.1% and contributed 22.9% to total revenue, while sales in Slovenia increased 4.8% and contributed 17%.

Sales on other regional markets rose 16.9% year-on-year through September, generating 7.9% of total sales. Atlantic Grupa suffered a 17% drop in sales on key European markets, where 4.3% of its overall revenue was sourced. Sales in Russia and the Commonwealth of Independent States fell by 14.5% and contributed 2.5% of total revenue, while sales on other markets decreased by 19.9% and contributed 1.8% 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 = 7.45474 kuna)