Croatia-based food producer and distributor Atlantic Grupa recorded total sales of HRK 1.14 billion (€154 million) in the first quarter of 2018, up 3% year-on-year.
In the same period, net profit increased by 17.8% to HRK 61.7 million (€8.3 million).
Contributing to the increase in sales were a number of the group's strategic business units: Savoury Spreads, which saw 15.9% growth, Coffee, which was up 14.7%, and Snacks, which saw 10.1% growth.
With 21.2% share and sales of HRK 243.1 million (€32.8 million), Coffee stands out as the largest individual category in terms of total revenue.
Divisional Performance
Snacks saw double-digit growth in Serbia, Montenegro, Croatia, Kosovo and Slovenia. Sales growth was recorded in both sweet and salty segments, with the best results recorded by brands Smoki, Štark wafers and biscuits, and Bananica.
Growth in the Beverages category was led by the Donat Mg brand in the Croatian and Slovenian markets and the group's instant vitamin drink, Cedevita. There was also a positive performance by Cockta in the HoReCa channel, primarily due to the new visual identity.
Savoury Spreads recorded double-digit growth due to excellent business results recorded in all regional markets and an increase in sales in Germany and the US. As the result of a cooperation agreement with a local partner in the US, first quarter revenue equaled the entire revenue recored by the division last year.
Country By Country
Among the individual countries in which the group operates, the highest growth was recorded in Slovenia – a record 15.3%, primarily due to brand performance, followed by Croatia (+11.5%) and Serbia (+9.4%).
Since the beginning of 2018, the group's distribution operations were reorganised into a single unit.
The first quarter was also marked by the commencement of distribution of the entire Mars portfolio in Croatia, while group distribution of Red Bull in Serbia commenced in April.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine
