Romanian distribution group Aquila doubles net profit on higher revenues in Q1 2023

Aquila (BVB: AQ), the market leader in the field of integrated distribution and logistics services for consumer goods in Romania and the Republic of Moldova, increased its revenues by 20% in the first quarter of 2023 compared to the same period last year, to RON 562 million (EUR 114 mln).

The company's profit more than doubled (+122% year-on-year), reaching RON 27 million (EUR 5.5 mln) in the first quarter of 2023.

The result was achieved in the context of organic business growth, supported by the company's strategy to focus on the channels with the highest growth potential and optimize the mix of products sold.

"Aquila continues to consolidate its position in the Romanian and Moldovan markets through organic growth, with a focus on the distribution segment. We are developing in the directions we have assumed, and we have taken important steps at the beginning of this year to improve margins and sign new partnerships, actions that have been reflected in the results obtained," said Cătălin Vasile, CEO of Aquila.

The AQ shares, which are trading on the Bucharest Stock Exchange and are part of the BET Index, gained 3.7% on Tuesday after the company released its first quarter results. Aquila currently has a market capitalization of EUR 177 million.

(Photo source: the company)