Major Croatian retail goods company, Atlantic Grupa, generated a 345.9 million kuna (€46 million) net profit in 2021, or 1.1 percent up from 2020. Its sales revenues reached 5.7 billion kuna (€758 million), up by 8.6 percent from 2020 and 9.3 percent up from the pre-pandemic year of 2019, the company said in their regular financial report on Thursday. 

Earnings before taxes increased by 1.1 percent to 724.4 million kuna (€96 million), and the same increase was recorded for net profit, which amounted to 345.9 million kuna (€46 million).

“Last year, Atlantic Grupa showed a high level of stability, despite economic disruptions caused by the prolonged Covid-19 pandemic and difficulties with global supply chains, and we have concluded our 30th year of operation with the historically highest revenues ever,” CEO, Emil Tedeschi, said commenting the report.

All business segments recorded growth thanks to, among other things, significant marketing and capital investments, a better epidemiological situation in all markets, and a significantly better tourist season in Croatia compared to 2020. The company’s revenues in Croatia increased 12.8 percent year-on-year, in Bosnia 8.8 percent, and in Serbia 8.3 percent.

Last year, Atlantic Grupa continued with major investments, notably in technology upgrade at Atlantic Stark in Serbia, new packaging of the Cedevita drink mix and the new Argeta food factory near the Croatian city of Varazdin, a €50 million project expected to create up to 150 new jobs.

(€1 = 7.52 kuna)