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, reported an 11% increase in revenues in the first quarter of 2024 compared to the same period last year, to RON 624 million (EUR 125 mln).

However, the company’s net profit declined by 26% year-on-year, to RON 19.6 million (EUR 4 mln) as the cost of goods sold also increased. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) remained at the same level as last year, at RON 40 million.

The company’s report was followed by a 3.6% decrease in the price of the AQ shares on Thursday, May 9. Still, even after this price correction, Aquila’s shares are up 30% compared with the end of last year and 63% in the last 12 months, outperforming the BET index.

"The beginning of this year was marked by significant events regarding the growth strategy through new acquisitions targeted since the listing at BVB in 2021. In February 2024, we completed the acquisition of Romtec-Europa SRL, and, in April, we finalized the acquisition of Parmafood Group Distribution SRL and Parmafood Trading SRL. We are confident in the opportunities created for the benefit of all stakeholders. We focus on expanding the product portfolio for all companies in the group, so that we develop specific solutions for each sales channel,” stated Cătălin Vasile, CEO AQUILA.

“We also continued the organic growth and development of our own brands. The results recorded in the first quarter were supported by increases of over 25% in the HoReCa and gas station distribution channels. We bring value through a wide range of quality products, from over 200 producers present in the AQUILA portfolio, through the logistics and digital solutions offered, and a performance-based vision," he added.

In 2023, AQUILA reported revenues of RON 2.51 bln (EUR 505 mln), up 14% versus 2022, and a similar increase in net profit, to RON 96.9 mln (EUR 19.5 mln).

AQUILA was the first FMCG distributor listed on the Bucharest Stock Exchange, in November 2021. The company currently has a market capitalization of RON 1.43 bln (EUR 288 mln).

editor@romania-insider.com

(Photo source: the company)