20% higher revenues and 122% increase in the net profit in the first quarter of 2023, as a result of the development strategy

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 almost 30 years of experience in this industry, ended the first quarter of 2023 with a 20% increase in revenues compared to the same period last year. The company's profit registered an advance of 122% as a result of the growth of the distribution business segment, reaching RON 27 million 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 to optimize the mix of products sold.

Cătălin Vasile, CEO of AQUILA:

"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. Operational excellence is paramount for us, we constantly optimize, including through the digitization component, which will have an impact on profitability. We also continue to develop our customer portfolio and expand our available logistics operations."

AQUILA's revenues increased by approximately RON 93 million (+20%), from RON 469 million in the first three months of 2022 to RON 562 million in the same period of 2023, while the gross margin from the sale of goods increased by approximately RON 26 million (+1.4 pp) to 22.3%.

In the revenue structure, all three business segments supported the company's results, recording a growth of 20% in the distribution segment, 13% in the logistics segment, and 7% in the transport segment.

The evolution of revenues from the distribution segment was determined by organic growth in all three sales channels: traditional (+37%), HoReCa (+31%), and petrol stations and convenience stores (+23%). The revenues of the company's own brands, Gradena and La Masă, increased by 45% in the first quarter of the year, to RON 18.7 million.

AQUILA's portfolio consists of approximately 10,000 products, of which over 1,000 were launched last year.

EBITDA increased by RON 13 million in the first quarter of 2023 compared to the same period in 2022, reaching over RON 40 million, an increase of 48%.

The company aims to double its EBITDA by 2026, with reference to 2021, through business development and M&A, by acquiring companies that have their own brands in the portfolio or are distributors of well-known brands.

In terms of sustainability, a pillar of the company's strategy, AQUILA has also set a target of reducing greenhouse gas emissions by 10% by 2026, with 2021 as the reference year, through fleet renewal, route optimization, logistics operations streamlining, defensive driving courses for employees, as well as the use of alternative energy sources.

The full report with AQUILA's financial results for Q1 2023 can be found here.