Atlantic Grupa reports higher profit, sales revenue despite coronavirus restrictions
- by croatiaweek
- in Business
CEO Emil Tedeschi (Photo: Atlantic Grupa)
ZAGREB, April 28 (Hina) – Atlantic Grupa generated a 10.6% increase in profit in the first quarter of 2020 compared with the same period in 2019 despite restrictions to stem the spread of the coronavirus epidemic, the food and distribution company says in its financial statement.
The company’s profit increased to HRK 89.3 million, and sales revenue rose by 12.2% to HRK 1.28 billion. Earnings before interest and taxes (EBIT) reached HRK 121.3 million, an increase of 15.4% compared with the first quarter of 2019.
CEO Emil Tedeschi said they believe the stable financial position, the historically best results in 2019, the unquestionable commitment of the company’s employees, and the strength of its brands will help them weather this crisis with minimal negative consequences.
The company noted that it has become involved in the fight against the coronavirus crisis in all regional markets in which it operates, donating HRK 28 million to healthcare institutions and local crisis management teams.
(€1 = HRK 7.559619)
