Atlantic Grupa 4Q 19 - Sales growth in all segments
Atlantic Grupa posted a nice top line growth in 4Q 19, whereby the best performing units were Savoury spreads (+8.9% yoy) and Distribution (8.1% yoy). The Beverages unit posted a strong advance as well (+6.6%). In terms of FY 19, the sales profile by markets showed an 8.6% upsurge of the Croatian market. The significant increase in sales of 19.2% in Other regional markets was recorded due to the double-digit increase in sales in the markets of North Macedonia and Montenegro, which compensated for the decrease in the market of Kosovo, primarily caused by the significant increase in customs duties on imports of goods from Serbia and Bosnia and Herzegovina to Kosovo. Western markets recorded a decrease in sales primarily due to the decrease in Germany because of disinvesting the Sports and Functional Food business, which was partly compensated for by the growth of Argeta in the Savoury spreads segment.
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