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Atlantic Grupa Newsletter I No 19 I December 2011 I Quarterly issue Naturally DIFFERENT Learn about our corporate values ABCD: Nikola Kero, Rok Žerjal, Vinko MatiÊ, Darko BurËul, Karlo GreguriÊ in basketball at Grand kafa winning team Cockta in Apatovac, Argeta, Multipower in Rogaška Cedevita and Cockta amongst the TOP 10 w w Revenue and operating profitability growth EWS N In the first nine months of 2011, Atlantic Grupa reported sales of HRK 3.45 billion, two times higher compared to the same period last year and 4% higher compared to the proforma consolidated sales in the first nine months of 2010. The operating profit before deprecia- the Sports and Functional Food Divi- guidance” says Emil Tedeschi, Presi- tion and amortisation, without one-off sionwith 18.3% higher sales and the dent and CEO of Atlantic Grupa. impacts, was HRK 394 million, while Pharma Division with the respective After integrating Droga Kolinska the net profit excluding one-off ef- 12.5 % growth. into Atlantic Grupa, the share of re- fects was HRK 32.5 million. The key “We are satisfied with our perform- gional markets in total sales reached sales growth drivers, along with the ance shown by doubled sales figures 79.8%. During the first nine months acquisition of Droga Kolinska, were resulting from the acquisition of Droga the share of Croatian market in total Kolinska and with organic growth of sales was 29%, followed by the mar- sales and operating profits on the pro- kets of Serbia with 24.6%, Slovenia forma consolidated basis compared to 12%, Bosnia & Herzegovina 8.2% the previous year. We are particularly and other regional markets at5.8%. satisfied considering that the company simultaneously had to manage inte- The key West European markets ac- gration activities, optimization of inter- counted for 8.5% of total sales with a nal processes and cost optimization as growth of 11.7%. The UK market had well as adverse macroeconomic trends the highest individual sales growth of coupled with spiking prices of raw ma- 12.7%, followed by the Serbian market terials on global markets. We expect with an 11% growth on the pro-forma Emil Tedeschi to end 2011 in line with our business consolidated basis. Atlantic grupa amongst the best in investor relations For the second time in Croatia, the Business the business of companies affected Maja BaraÊ Adrinek with the other winners Journal has given awards to domestic by domestic and foreign actors on the companies for the Best Investor Relations. financial markets. Moreover due to the fact Awards were handed out on Friday at that understanding the mentioned factors the Zagreb Stock Exchange conference, is considered an important opportunity which was the Business Journal’s partner to assess the “fair” value of a company in choosing the best. Once again, Atlantic and make investment decisions, which Grupa found itself amongst the top especially gains importance in conditions three companies on the Croatian capital where companies raise funds for financing market beside Ericsson Nikola Tesla and strategic projects or acquisitions,” stated HT - Croatian Telecommunications. “We Maja BaraÊ Adrinek, Director of Investor believe that in today’s conditions on the Relations. The Business Journal chose capital markets, as well as the inadequate the Laureates from 35 companies who the award. The final tallied list, from which macroeconomic movements for the real agreed to undergo a critical assessment of the best were chosen, was made based sector, transparency of a company’s the transparency of their business. All the on data from the Zagreb Stock Exchange business, which is channeled through stocks included in the CROBEX10 index regarding the compliance with regulations relationships with investors, is even more calculations, all included on the Official of publishing regular and extraordinary important for understanding business market, and all the most liquid stocks from information related to business, and based models, development foundations and the Regular Market of the Zagreb Stock on a survey conducted by the Business strategies, and especially all risks in Exchange were included in the running for Journal amongst domestic investors. ATLANTIC NEWS • 2 w w SYNERGIES NEWS Ahead next year: production of Cockta in Apatovac and Multipower in Rogaška Cockta production in KalniËke vode in Apatovac is the latest of Atlantic’s investments geared toward moving Cockta production from outsourced bottling plants to the Apatovac water bottling facility. for mid December, fixing up any possible to the existing line and renovations to the deficiency or automation issues of the en- facilities. Final testing and the beginning tire process during January. By the end of of production are expected by the end of January 2012 we expect to launch regular February 2012. production,” pointed out the head of engineering and project leader Ivan PaveliÊ. Another investment meant to curb out- The investment also includes the con- sourced bottling is the struction of a syrup manufacturing facility; Multipower drink line adapting and expanding existing produc- that will be heading to tion lines; renovation of the water prepara- Rogaška in the near fu- tion facility; construction of a wastewater ture. The investment in- processing facility; and the construction cludes the procurement of a well. “We have planned the begin- of a sleever labeling ma- chine, enhancements ning of test production in “manual mode” Atlantic Grupa’s Brands Day held in Izola Atlantic Grupa held its first Brands Day production plants of deli spreads organized by its Department for Investor and coffee, as well as a description Relations. Investors from Croatia, Slovenia of manufacturing processes led by and Germany had the chance to visit the Director of Manufacturing Dušan production plants in Izola where their hosts Poberaj and his team. Investors were Maja BaraÊ Adrinek, Director of also had the chance to meet the Investor Relations and Davor OršiÊ, Director management better and learn of Treasury. Around forty investors and about the development strategies financial analysts from Croatia, Slovenia of key brands from the Atlantic and Germany attended Brands Day, Grupa portfolio in a presentation amongst which the major shareholders of held by Aleksandra Kregar Brus, Atlantic Grupa, including representatives Director of Central Marketing. from the European Bank for Reconstruction Investors were also presented a and Development, German Development short review of Atlantic Grupa’s Bank DEG, as well as representatives from financial results for the past nine months Barcaffe coffee and Argeta deli spreads. pension funds and from the leading banks and its financial expectations for the year The turnout for Atlantic Grupa’s Brands in Croatia and investment funds in Croatia 2011. Representatives of the investment Day surpassed expectations, as well as the and Slovenia. Investors had a tour of the community also had the chance to sample positive reactions after the event. 3 • ATLANTIC NEWS w w CORE for savings NEWS Program launched for cost reduction till the end of 2013 In November, Atlantic Grupa launched the CORE (Cost Reduction) program - a widespread cost reduction program for the 2011-2013 period. In this phase, the program is focused on goods and services from external suppliers synergy that comes from the merger of optimising primarily external company of Atlantic Grupa. The actual financial Droga Kolinska and Atlantic Grupa. In the costs, with the aim of creating the goal of the program in the defined period long term, the savings program is apt to preconditions for the further growth and is reducing costs in a total amount of 25 expand to all processes and costs, external development of Atlantic Grupa by freeing million euros, based on projected company and internal, better said, to create a up financial resources necessary for their revenue in the given period. This goal corporate culture with systematic attention financing. External costs include all costs has been harmonized with the expected to cost rationality. that arise as a consequence of acquiring decrease in costs based on using the Areas for achieving savings The program has planned savings in It is possible to achieve those savings in almost all areas of external costs of several ways, of which the most significant Atlantic Grupa, especially in the following are: categories: Contracting lower prices of goods and • Production material costs services in comparison to earlier prices, or • Costs of contracted production with a smaller increase or larger decrease • Utility material costs of the price of goods and services than Danijel Banek • Marketing material costs the objective effects of the increased (de- • Costs of purchasing capital creased) basic input prices that forms the Reducing the “frozen” AG work capi- equipment cost structure of those goods and services. tal through a decrease in reserves or free- • Costs of technical materials and Substitution of one production mate- ing up work capital through an agreed- spare parts rial with another, which enables lower upon prolongation of payments towards • Costs of renting and leasing production costs, under the condition that suppliers (without negative effects on the properties and equipment the material substitution does not cause price of goods or services). • Vehicle costs an increase of the total conversion cost or Optimizing processes within the opera- • Energy costs a negative effect on the quality, image, or tive AG companies, in such a way that the • Costs of logistical services sales of a product. need for materials and services necessary • Maintenance service costs Contracting free services (or materials) for production and sales of an equal • Intellectual service costs that AG previously paid suppliers for. amount of products is reduced. Cedevita and Atlantic Grupa amongst the most effective brands and advertisers According to the Effie efficiency index, most effective Croatian brands, Tomato which recognizes and ranks the most suc- and Životinjsko carstvo joined Cedevita.

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