June the 27th, 2023 – The results from the Adris Group in the post-crisis period are finally above what was being reported back before the crisis hit.
As Poslovni Dnevnik writes, the recently held session of the General Assembly of the Adris Group in the gorgeous Istrian city of Rovinj ended the holding of the majority of the annual assemblies of the companies within the wider Group.
Multiple assemblies were held
During the day, the assemblies of Maistra, HUP Zagreb and Cromaris were also held. The general assembly of Croatia osiguranje was held on May the 31st, while the assembly of Grand Hotel Imperial will be held on June the 21st.
Explaining the business results from the year 2022, the CEO of Adris Group, Marko Remenar, reminded the shareholders of the macroeconomic environment, but also confirmed that from a strategic perspective, “the second global crisis in just a few years confirms that the Adris Group has a well-balanced portfolio of jobs in various industries, and people who know each other deal well with challenges”.
Sales growth
Growth in sales revenue comes from all three businesses, but primarily from the tourism part, which shouldn’t come as much of a surprise. In 2022, the Adris Group achieved total revenues of HRK 6.5 billion, which represents a 14% increase when compared to 2021. Revenue from the sale of goods and services also amounted to HRK 6.1 billion (16% growth).
Consolidated profit before interest, taxes and depreciation
Consolidated profit before interest, taxes and depreciation (EBITDA) amounted to HRH 1.30 billion for the Adris Group, which is encouraging growth of 23%. The Group’s net profit in 2022 stood at HRK 550 million, which is 37% more than the net profit they earned back in 2021, and 9% higher than the net profit realised in 2019. The net profit after minority interests amounted to HRK 418 million and, in comparison compared to the previous year, the figure is higher by 41%.
Low indebtedness
Indebtedness is still extremely low for the Adris Group and amounts to 0.7 x EBITDA. The Assembly also made a decision to allocate last year’s net profit in the amount of HRK 3,913,150.23 to retained earnings. A decision was also made to pay out a dividend in the amount of EUR 2.35 per share.
