Uljanik Shipyard Again Posts Loss

ZAGREB, April 30, 2018 – The Uljanik shipbuilding group generated a loss of 41.6 million kuna in the first quarter of 2018, compared to a loss of 33.16 million kuna at the same time in 2017, its financial statement shows.

The group’s total revenue was 406.5 million kuna, down 51%, with sales revenue dropping by 50% to 318.7 million kuna. Expenditures decreased by 48.4% to 448.2 million kuna.

On the other hand, Uljanik d.d. generated a net profit of 21.3 million kuna, an increase of 37.8% over the first quarter of 2017. Total revenue reached 359.5 million kuna, down 30.3%, with sales revenue dropping by 31% to 289 million kuna. Expenditures fell by 32.3% to 338.2 million kuna.

On January 22, the European Commission gave the company six months to draw up a viable restructuring programme.

 

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