Report

Atlantic Grupa Q1 21 - Weaker yoy due to high base effect, but above expectations

Top line yoy lower due to stockpiling in Q1 20 and restricted operations of HoReCa channel
EBITDA margin yoy down on higher marketing expenses
The FY 21 guidance is a bit above our estimates in terms of the top line but weaker on the profit margins
We expect slightly positive reaction on the figures
Underlying
Atlantic Grupa

Provider
Raiffeisen Bank International AG - Institutional Equity
Raiffeisen Bank International AG - Institutional Equity

The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.

The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.

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