Atlantic Group earns HRK 45 mln in net profit in Q1

In the first three months of this year the food and distribution company Atlantic Grupa earned a net profit of HRK 45.2 million, 1.6% more than in the same period last year, shows an unaudited consolidated financial report released on Thursday.

EBITDA (Earnings before interest, taxes, depreciation and amortization) was HRK 103.9 million, a drop of 5.1% from the same period of last year. The decrease was mostly due to investments in the internationalisation of business and the related increase in outlays for workers and distribution services in new companies in Germany and Austria, as well as higher marketing costs.

EBIT (Earnings before interest and taxes) amounted to HRK 69.8 million, down 5.1%. The group said that despite the drop in operating profits and owing to a significant drop in interest costs and a more favourable effect of exchange rate differences, the net profit grew 1.6% to HRK 45.2 million.

The group's total revenues in Q1 were down 0.5% to HRK 1.16 billion, while total expenditure remained at HRK 1.06 billion, the same as in Q1 2015.

Sales revenues dropped 0.2% to HRK 1.15 billion.

The group said this year's investments were planned in the amount of HRK 150 million.

Last update: Thu, 28/04/2016 - 12:23


More from Business

Croatian Postal Bank posts record net profit of HRK 147.5 mln

The Croatian Postal Bank (HPB)'s net profit in the first nine months of 2016 was 38.1% higher compared to the same...

Apple earnings down, iPhone sales decline

Apple's latest results, posted Tuesday, showed a drop in revenue and declining iPhone sales.

Adris Group's Jan-Sept net profit HRK 570 mln

In the first nine months of 2016 the Adris Group generated a net profit of HRK 570 million while its total revenue...

Podravka Group posts net profit of HRK 142.2 mn

The Podravka food and pharmaceuticals group generated a net profit of HRK 142.2 million in the first nine months of...

IKEA Croatia increases turnover by 5.8%

IKEA Croatia has generated HRK 567.7 million (without Value Added Tax) in turnover or 72.4 million euro in the 2016 ...