Atlantic Grupa (ATGR) Q4 2024 earnings summary

Executive summary

• Achieved sales of EUR 1,080.3m in 2024, up 10.9% year-over-year, with growth in all business segments despite record coffee and cocoa prices.

• EBITDA rose 12.0% to EUR 97.0m, with normalized EBITDA up 10.3%; growth achieved despite higher input costs and investments.

• Net profit declined 15.2% to EUR 26.5m, mainly due to higher finance, depreciation, and tax expenses.

• Integration of Strauss Adriatic completed, with expected synergy effects in 2025.

• Recognized as an ESG leader in Slovenia, Serbia, and Croatia, with multiple awards for sustainability and innovation.

Financial highlights

• Sales revenues increased 10.9% to EUR 1,080.3m; EBITDA reached EUR 97.0m (+12.0%); EBIT grew 2.5% to EUR 45.8m.

• Net profit after minority interest was EUR 26.5m, down 15.2%; normalized net profit fell 23.4%.

• Free cash flow was EUR 18.5m, down from EUR 20.3m in 2023, due to higher capital expenditure.

• Dividend of EUR 1.20 per share distributed, totaling EUR 15.9m, over 50% of consolidated net profit.

• Net debt increased to EUR 193.4m, mainly due to the Strauss Adriatic acquisition.

Outlook and guidance

• 2025 sales expected at EUR 1.2bn, with normalized EBITDA projected to remain at 2024 levels.

• Ongoing pressure on profitability anticipated due to rising coffee and cocoa prices and inflationary pressures.

• Planned capital expenditure of over EUR 55m for 2025, focusing on Coffee and Snacks.

• Management to focus on maintaining profitability, selective expansion, operational excellence, and digital transformation.