As Poslovni Dnevnik writes on the 29th of February, 2020, in addition to the minimum net salary of 5,000 kuna, Christmas bonuses and other rewards, Valamar introduced a thirteenth salary in 2019. A large number of hotels and camps have been awarded more than fifty national and international awards, and for the third time now, Valamar Riviera has won the Best Investor Relations Award.
According to the revised annual results for 2019, Valamar Riviera generated a massive 2.22 billion kuna in total revenues, marking a significant 10 percent growth when compared to the previous year. In 2019, there were 6.8 million overnight stays realised, an increase of 5 percent when compared to the same period last year, while the average prices increased by 5 percent.
Valamar’s operating profit reached 769 million kuna, an increase of 11 percent when compared to 2018. The growth achieved is primarily the result of successful investments in product development and portfolio expansion, as well as the balanced management of operational efficiency, taking care to raise employee salaries and the general improvement of working conditions of Valamar employees.
”Last year, we successfully expanded our partnerships with pension funds in line with the strategy of expanding and developing the tourism business. In partnership with Allianz ZB Retirement Funds, Valamar has participated in the recapitalisation of the Imperial Riviera d.d. which started the realisation of a five-year investment cycle worth 1.5 billion kuna. In partnership with PBZ CO Pension Funds, Valamar, through the recapitalisation of Helios Faros on the island of Hvar, we’ve started the realisation of a five-year investment plan in our portfolio of 700 million kuna.
Valamar confirmed its status as the best employer in tourism in 2019 and ranked seventh among employers in Croatia according to a survey by MojPosao (MyJob), which is the result of the excellent working conditions and career development opportunities we offer our employees. In addition to the minimum net salary of 5,000 kuna, Christmas bonuses and other awards, Valamar introduced a thirteenth salary in 2019. A large number of hotels and camps have been awarded more than fifty national and international awards, and for the third time, Valamar Riviera has won the Best Investor Relations Award.
”Behind us lies a great period of business development, because in the past five years, we’ve achieved portfolio expansion and an average annual growth of business results of over 20 percent, taking care of balanced and sustainable development. We’ll continue to invest in product quality and human resource development with a view to continuing growth and creating added value for shareholders and partners,” said Željko Kukurin, CEO of Valamar Riviera.
Stable balance sheets, a strong cash flow from operating activities and a sustainable ratio of net debt to EBITDA will work to enable the continuation of the strategy of investing in portfolio repositioning according to high value added services.
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