Croatia's major retail company, Atlantic Group, reported a net profit of 399.8 million kuna (€53m) over the first nine months of 2021, an increase of 13.9 percent over the same period of 2020, state agency Hina said, citing the company's report released on Thursday.

Total revenues increased by 9.4 percent to 4.29 billion kuna (€570m) in the same period. Sales revenues reached 4.25 billion kuna (€565m), a 9.3 percent increase compared to the same period of 2020 and a 10.1 percent increase compared to the pre-pandemic year of 2019, when the company had posted its best results ever.

EBITDA (earnings before interest, taxes, depreciation and amortization) was 667.8 million (€89m), which is, excluding one-off items, 6.2 percent more than in the first nine months of 2020.

CEO of Atlantic, Emil Tedeschi, said that Atlantic “continued to record significant growth in revenue and profitability despite the challenges facing it, including the uncertainty surrounding the coronavirus pandemic.”

In March, Atlantic Grupa started the construction of a new factory to of products under their Argeta pâté brand in Kneginec near the northern town of Varazdin. The total value of the investment exceeds €50 million, and the project is expected to create up to 150 new jobs.

(€1 = 7.52 kuna)