Atlantic Grupa, a Croatian food company present in 10 countries and exporting to more than 40 markets worldwide, said that its 2018 sales inched up 0.3% compared to 2017 to 5.26 billion kuna (€710 million).
EBITDA was down 6.2% to 545.9 million kuna. If one-off items are excluded it was up 9.3% to 565.6 million kuna.
Net profit fell 11.6% to 244.2 million kuna. If one-off items are excluded it was 23.8% up to 261.7 million kuna.
Mixed Markets
The company said that it posted higher sales in Croatia and other countries in southeastern Europe, but suffered a decline in other markets like the countries in western Europe and Russia.
Net debt fell to 862.9 million kuna from 1.19 billion kuna at the end of 2017
This year the company expects a rise in sales of 2.7% to 5.4 billion kuna and an increase in EBITDA of 8.7% to reach 615 million kuna.
News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.
