07/29/2021 CORPORATE

Significant increase in revenue and profitability in the first half of 2021

We are especially pleased with the organic sales growth of almost 9 percent compared to the first half of 2019 when Atlantic recorded the historically highest revenue.

In the first half of 2021, Atlantic Grupa recorded sales of HRK 2.7 billion, which is a 9.7 percent increase compared to the same period of the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) amount to HRK 387.2 million, excluding one-off items, which is 6.7 percent more than in the first half last year. The company recorded net profit of HRK 217.5 million, which is an 18.0 percent increase, excluding one-off items.

“In the first half of 2021, Atlantic Grupa recorded growth in all business and distribution units, which, compared to the same period of the previous year, is also a consequence of the better epidemiological situation in all markets and the easing of measures to prevent the pandemic. We are particularly proud to have achieved, despite all challenges, the organic sales growth of almost 9 percent compared to the first half of 2019, the year in which we generated the historically highest revenues. We have also recorded a new highest share price and distributed the historically highest dividend. We are aware that the coming period will be epidemiologically challenging, while our priorities remain the same: the health and safety of our employees, ensuring the smooth continuation of production and continuous supply of our customers and consumers, and social responsibility in the broadest sense”, Emil Tedeschi, CEO of Atlantic Grupa said.


The best result among business units was recorded by strategic business units Beverages, whose leading brand is Cedevita, with a 16.1 percent growth, Donat with a 15.8 percent growth, and Coffee,
individually the largest category with a 20.5 percent share in total revenues and leading brands Barcaffe and Grand kafa, which grew 10.3 percent. The distribution units are led by Croatia with a 10.6 percent growth and Serbia with a 9.7 percent growth. It should be noted that two new brands – Jimmy Fantastic chocolate, and a range of oat-based products Boom Box, were successfully launched in March and April on the markets of Croatia and Slovenia, with excellent initial sales results and great market prospects.


Given the excellent business development and growth plans in the savoury spreads category, Atlantic Grupa started the investment in the construction of a new factory of products under the Argeta brand in March, in the municipality of Kneginec near Varaždin. The investment, with a total
value of more than EUR 50 million, will have several phases, and the new production plant is scheduled to be commissioned within 15 months after obtaining a building permit. The realisation of all phases of the project should create up to 150 new jobs. Moreover, in July Atlantic Grupa and
Barry Callebaut, the world’s leading manufacturer of high-quality chocolate and cocoa products, concluded a collaboration agreement that will improve the production of Atlantic’s established portfolio in the chocolate range. Atlantic Štark is the first regional strategic partner of Barry Callebaut
and its factory in Novi Sad, and this partnership confirms that Atlantic is focused on further development of core brands in key categories