October 30 (SeeNews) - Croatia's Atlantic Grupa [ZSE:ATGR-R-A] has said its consolidated net profit rose 34.2% on the year to 319.6 million kuna ($48.9 million/43 million euro) in the first nine of 2018.
Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 18.9% to 524.1 million kuna, due to the higher sales in most business units and lower costs of production materials, despite the increase in cost of goods sold and higher investment in marketing, Atlantic Grupa said in an interim financial statement posted on its website on Monday.
Total sales revenue edged down 0.5% on the year to 3.887 billion kuna in the nine months through September, caused by the absence of sales of private labels in the Strategic Business Unit Sports and Functional Food, despite a significant sales growth in most business and distribution units.
In terms of the group's individual markets, sales in Croatia increased 9.6% year-on-year in the nine months through September, generating 33.4% of the company's total revenue. Sales in Bosnia grew 5.5% and had a 8.4% share in total revenue. Sales in Serbia added 5.6% and contributed 23.7% to total revenue, while sales in Slovenia increased 4.0% and contributed 16.8%.
Sales on other regional markets rose 6.1% through September, generating 7.0% of total sales. Atlantic Grupa suffered a substantial 39.1% drop in sales on key European markets, where 5.4% of its overall revenue was sourced. Sales in Russia and the Commonwealth of Independent States fell by 24.2%, contributing 3.2% of total revenue, while sales on other markets plummeted 44.1% and contributed 2.2% 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 = 7.43468 kuna)