Atlantic Grupa makes smaller income and profit in the first half of 2016

Atlantic Grupa announced on Thursday, July 28, that it had made EUR 325 million of sales income in the first half of 2016, which is 3.3% lower than in the same period of 2015. As they say, the earnings before interest, taxes, depreciation and amortization (EBITDA) amount to EUR 34.4 million and are lower by 7.4% , whereas the net profit after minority interest amounts to EUR 17.7 million.

Group Vice President for Finance Zoran Stankovic stated that the fall in sales had been caused by the cessation of cooperation with the biggest client for a private brand in sports sales and active sales, and, to a smaller extent, by the depreciation of the Russian Ruble and the Serbian dinar.

– Said effects aside, the sales income relative to the same period last year have grown significantly, by 5.2%. The drop in operational income has for the most part been caused by the previously announced significant investments in the development of distribution of our own brands in Germany and Austria, whereas nearly all other segments have simultaneously recorded a significant growth of profitability – Stankovic said.

As stated, regarding individual markets, the biggest growth (4.9%) was made in the Slovenian market, which is Atlantic Grupa's third largest market, with a 16.3% share in the total income.

In the Croatian market, which has the biggest share in the sales income with 28%, a growth of 4% was recorded, whereas the market in Bosnia and Herzegovina takes the third place based on the growth (3.5%) in the first six months and has a 7.8% share in the total sales income.

Atlantic group Zagreb

Atlantic Grupa

Zoran Stankovic

Atlantic Grupa financial results