Over the first nine months of 2022, Croatia's major multi-national consumer goods company Atlantic Grupa reported 4.7 billion kuna (€624 million), or 10.8 percent up from the same period last year. However, their profits dropped by 32.1 percent year-on-year to 271.3 million kuna (€36 million), the company said on Thursday.

Earnings before interest, taxes, depreciation and amortization decreased by 20.3 percent compared to the first nine months of 2021 and amounted to 532.2 million kuna (€71 million). Revenues increased most of in sales of beverages (19 percent), followed by coffee (15.9 percent), and pharmacy products sold by their pharmacy chain Farmacia (13.2 percent).

The company’s branch in Serbia increased sales by 15.3 percent and in Croatia by 10.3 percent. Operating costs totaled 4.44 billion kuna (€590 million), up by 16.1 percent year-on-year. The cost of raw materials increased by 30.7 percent to 1.44 billion kuna (€191 million) and energy costs increased by a whopping 78.2 percent to 79.6 million kuna (€10.6 million).

(€1 = 7.53 kuna)