Adris Announces Good Business Results for First Half of Year

Total Croatia News

Revenues in the first six months reach 2.4 billion kuna.

“All companies owned by Adris have posted good business results. This is the best proof that we have successfully completed the transformation of the company. In the next three years, we plan to invest four billion kuna in current businesses, but we are also ready for new business challenges. Adris is open to the future. We know what we want, and that means we can accomplish it”, said Ante Vlahović, the CEO of Adris, after today’s publication of business results for the first half of the year, reports on July 29, 2016.

In the first six months of this year, total revenues of Adris Group amounted to 2.4 billion kuna, while operating income was 2.2 billion kuna. Net profits amounted to 151 million kuna, which is, despite the sale of tobacco segment of the business, at last year’s level, when it stood at 150 million kuna. The current reporting period is not fully comparable with last year because the Group no longer includes the tobacco business, Adris announced.

In the first six months of 2016, Maistra achieved three percent fewer overnight stays than in the first half of 2016, but with an increase in average price of eight percent, which led to an increase in operating income of five percent. The tourist part of the Group is working actively to increase quality of existing products. Total investments in 2016 are estimated at over 400 million kuna, and in the next three-year period Adris will invest in the tourist part of its business as much as 1.6 billion kuna. Current booking levels confirm positive trends despite the increase in average price.

Cromaris achieved 11 percent higher sales than in the first six months of last year. Exports grew 16 percent, mostly to the German market. Nearly 80 percent of Cromaris’ sales are realized on foreign markets. There has been an increase in prices of fish by six percent. In line with the growth in volumes and prices, in the first six months revenue growth of 18 percent was achieved. Net profits were in the amount of 7.2 million kuna.

Croatia Osiguranje insurance company continues to have the leading position in the Croatian market, with a total share of 32.9 percent, or 0.4 percent more than in the previous reporting period. In Croatia, it achieved total gross premium in the amount of 1.6 billion kuna, which is at the last year’s level. In the first six months, the Croatia Osiguranje Group recorded profit before tax in the amount of 82 million kuna, while in the same period last year the profit was 57 million kuna, so there was an increase of 44 percent. Net profits amounted to 62 million kuna, which is 55 percent more than in the first half of 2015.


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