18% growth in revenues in the first half of 2024 compared to the same period last year

AQUILA (symbol AQ), the market leader in the field of integrated distribution and logistics services for consumer goods in Romania and the Republic of Moldova, with 30 years of experience in this industry, ended the first half of 2024 with revenues of nearly RON 1.3 billion, higher by 18% compared to the same period of last year. The results were driven by organic growth in the distribution segment and by the three companies whose acquisition was completed in 2024.

Cătălin Vasile, CEO AQUILA:

"Our priority in the first six months has been to strengthen our position on the market of integrated distribution and logistics services in Romania and Moldova, as well as to set the framework for creating synergies following the three acquisitions completed this year. Also, we continue the discussions to acquire other companies that were carefully analysed already. Although we registered record revenues this semester, we remain focused on opportunities that could lead to doubling our EBITDA by 2026, using 2021 as the benchmark, in line with our committed strategy. We continued the organic growth and the development of our own brands. The distribution channels with the higher growth rates were HoReCa and the organized sales channel, with sales increasing by 35% and 29% respectively. The integration of Romtec Europa, Parmafood Group Distribution, and Parmafood Trading contributed to the expansion of AQUILA's portfolio with over 120 local and international brands, with an additional contribution of 5% to sales."

Our own brands, Gradena, La Masă, and Yachtis, continue to represent one of our strategic development goals and we have achieved a 16% growth in the first half of the year compared to the same period in 2023.

EBITDA increased by 11% compared to the first half of the previous year, reaching RON 77 million, with an EBITDA margin of 6% at the group level. Net profit for the first half of 2024 stands at RON 35 million, influenced by additional tax measures imposed by the central authorities.

The company's priorities for 2024 remain the integration of the three recently acquired companies as well as the increase in sales of its own brands. For the current year, the company has budgeted investments of EUR 16.9 million for transportation means and warehouse equipment, in line with the sustainability objectives.

The report on AQUILA's financial and operational results for the first half of 2024 can be found aici.