The Dubrovnik group Atlantska plovidba achieved a net profit of 100.25 million kuna in the first half of this year, while the profit from the same period last year was less than 15 million kuna.
These are data from the financial report of the group, which, in addition to the shipping company and the Atlant travel agency, includes the Dubrovnik Grand Hotel Imperial and Hotel Lapad, the airline Dubrovnik airline, as well as the companies Atlant Bulkers from the Marshall Islands and Atlantic Conbulk Maritime from Liberia. The revenues of the Atlantska plovidba Group increased in the first half of this year compared to the same period last year by 24 percent, to 598.7 million kuna. A smaller part of the total revenue – 29.5 million kuna or 19.5 percent more than last year – was generated in the domestic market, while revenues generated in foreign markets simultaneously increased by 26 percent, to almost 554 million kuna, of which 79 percent was achieved in the maritime segment. Atlantska plovidba reports that the largest growth, of 31.3 percent, is recorded in air transport and 20.5 percent in maritime transport.
Maritime transport accounts for 75 percent of total revenue, air transport 19.5 percent, and hospitality around 5 percent. At a rate significantly lower than the revenue growth rate, the total expenses of the Atlantska plovidba Group grew in the first half by 5.5 percent, to 499.5 million kuna. For example, material costs were reduced by 16.2 percent, to 154 million kuna, and personnel costs by 6.4 percent, to 82.3 million kuna. At the same time, there is an increase in other operating expenses (by 30 percent, to 158 million kuna) and total financial expenses (34.4 percent, to 40.75 million kuna). Atlantska plovidba notes that only Dubrovnik airline records a significant increase in costs, due to one more aircraft and as much as 55 percent higher commercial utilization of the aircraft. They also add that freight rates have recorded constant and significant growth throughout the entire half-year. Among the significant events from the past half of this year, the report highlights the payment of the due principal for the first tranche of commercial papers in the amount of 40 million kuna at the end of March this year. (H)
