November 13 (SeeNews) - Romanian fast-moving consumer goods (FMCG) distribution and logistics company Aquila [BSE:AQ] said on Monday that its net profit rose 9% year-on-year to 70 million lei ($15 million/14 million euro) in the first nine months of 2023.
Revenues increased by an annual 14% to over 1.7 billion lei during January-September, Aquila said in a report filed with the Bucharest Stock Exchange.
"In the revenue structure, during the first 9 months of the year, the distribution and logistics segments recorded growth of 15% and 12%, respectively, compared to the same period in 2022. Revenues from the transport segment decreased by 5%. The increase in the revenues in the distribution segment is attributed to organic development, supported by growth of 27% in the traditional channel, 16% in the petrol stations channel, and 15% in the HoReCa channel," said Aquila CEO, Catalin Vasile.
Earlier this month, Aquila said that it has agreed to buy 100% of local car aerosols producer Romtec for 3.2 million euro ($3.42 million).
Aquila was established in 1994 as an entity specialised in integrated services of distribution of consumer goods and logistics, currently employing some 3,000 people. In 2022, the company booked a net profit of 85 million lei, up 20% on the year, and a turnover of 2.2 billion lei, up 15%.
Aquila's shares traded 0.89% lower at 0.892 lei as of 1026 CET on Monday on the Bucharest Stock Exchange.
(1 euro=4.97 lei)