Atlantic Grupa (ATGR) investor relations material

Executive summary

• Sales grew 9.2% year-over-year to EUR 559.5 million, with revenue growth in nearly all business and distribution units and major markets, especially in Coffee, Savoury Spreads, Donat, Serbia, and North Macedonia.

• Profitability declined due to record-high raw coffee and cocoa prices and increased investments in employees, despite strong sales performance.

• New product launches, including DoNatural and Lemonish, achieved strong market results and won awards, supporting the company's innovation strategy.

• Strategic moves included a binding offer to acquire Osem (meat spreads), the sale of Montana Plus (sandwiches), and the issuance of EUR 80 million in new corporate bonds.

Financial highlights

• EBITDA was EUR 50.7 million, down 11.7% year-over-year (down 5.1% excluding one-off items).

• EBIT was EUR 25.0 million, a 28.6% decrease year-over-year (down 19.6% excluding one-off items).

• Net profit was EUR 14.8 million, down 39.4% year-over-year (down 29.3% excluding one-off items).

• Normalized EBITDA margin fell to 9.0% from 10.3% and normalized net profit margin to 2.6% from 4.0%.

• Gearing ratio increased to 37.5% from 29.5% at year-end 2024, and net debt/EBITDA rose to 3.0 from 2.1.

Outlook and guidance

• Sales for 2025 are expected to reach EUR 1.2 billion, with continued strong pressure on profitability due to volatile raw material prices and rising wages.

• Normalized EBITDA for 2025 is forecasted between EUR 96 and 100 million, with capital investments exceeding EUR 55 million, mainly in Coffee and Snacks.

• Management will focus on maintaining profitability, selective portfolio expansion, operational excellence, and organizational strengthening.