Romanian distribution group Aquila posts 74% profit increase in first half of 2022

Aquila (BVB: AQ), the market leader in the field of integrated distribution and logistics services in Romania, recorded a net profit of RON 32 mln (EUR 6.5 mln) in the first half of the year, 74% higher relative to the same period of 2021. The acquisition of Trigor during the first half of 2021 contributed RON 3.4 mln to Aquila's profitability in H1 2022.

The company's revenues registered a consistent increase in the first half of the year, reaching RON 961 mln (EUR 196 mln), an advance of approximately RON 90 mln compared to the January-June period of 2021.

The acquisition of Trigor and an increase in distribution revenues stand out as the leading causes of Aquila's performance.

"Despite an unpredictable start of the year with numerous signs of instability, we continue our strong positive evolution with a new semester of growth. Distribution revenue advanced 11% in the first six months, focused mainly on the acquisition of Trigor in 2021 and the continuous development of the distribution business, with a focus on each of the Retail segments. The GasStation (gas stations) and Horeca components saw substantial growth of 14%, while logistics and transport services also saw an acceleration of 1.4%. In the meantime, we will continue our business expansion strategy, according to the plan conceived last year, when we listed Aquila on the Bucharest Stock Exchange, and in line with the evolution of the local market," declares Cătălin Vasile, CEO of Aquila.

Aquila's shares bounced up by 2.2% on August 30, after the company released its H1 results, but are still trading almost 30% below their debut price on BVB. The company's capitalization stands at RON 756 mln (EUR 155 mln).

(Photo source: Facebook/Aquila)