February 27 (SeeNews) - Romanian fast-moving consumer goods (FMCG) distribution and logistics company Aquila [BSE:AQ] said on Monday that its net profit rose 20% on the year to 85 million lei ($18.2 million/17.2 million euro) in 2022.
The 2022 net profit is the largest registered by the company since its formation, Aquila said in a press release detailing its preliminary financial results for last year.
The rise in profit comes on the back of a 15% year-on-year increase in the company's revenues, which reached 2.2 billion lei in 2022. The growth in revenues was supported by the distribution segment and the company's own brands.
Revenues from distribution grew 15% on the year, while the revenues from logistics increased 7% in 2022. Revenues from transportation rose 15% last year.
"We have integrated in our activity the sustainability component, we continue investing in projects that will make us more efficient, that will strengthen our results and will continuously reduce our footprint on the environment," said Catalin Vasile, CEO of Aquila.
By 2026, the company expects its earnings before interest, tax, depreciation and amortisation (EBITDA) to double through the acquisition of various companies which have their own brands or are distributors of well-known brands.
Aquila was established in 1994 as an entity specialized in integrated services of distribution of consumer goods and logistics, currently employing some 3,000 people. The company is present on the Romanian and Moldovan markets. In 2021, the company booked a net profit of 71 million lei, up 30% on the year, and a turnover of 1.93 billion lei, up 13%, data from the finance ministry showed.
Blue-chip Aquila's shares traded 0.90% higher at 0.6720 lei as of 1008 CET on Monday on the Bucharest Stock Exchange.
(1 euro=4.92135 lei)