Romanian FMCG distributor Aquila posts higher turnover and profit in first half
Aquila (BSE ticker: AQ), the biggest FMCG distribution and logistics group in Romania, recorded revenues of RON 1.1 billion (EUR 223 mln) in the first half of 2023, up by 17% compared with the same period of 2022.
The revenue growth was driven mainly by the advance in the distribution segment, which represents over 90% of the company's total turnover.
The company's net profit reached RON 42 million (EUR 8.5 mln), an increase of 29% year-on-year.
"We have achieved strong performances in all three business segments. The traditional and HoReCa sectors were the distribution channels with a higher growth pace. We continued to develop our own brands, focusing on marketing and distribution. With new partnerships, the number of points of sale through which the company sells products across all channels has reached 72,000," said Aquila CEO Cătălin Vasile.
Aquila invested EUR 4.1 million in the first half of the year in transportation means, IT equipment, and warehouse facilities, based on the investment plan approved by the General Shareholders' Meeting in April.
Aquila's shares have gained 60% since the beginning of this year (as of August 28), significantly more than the 12% growth recorded by the BET index. The company currently has a market capitalization of EUR 218 mln.
(Photo source: Aquila)