The Adriatic Pipeline, unlike many domestic companies, performed better last year than in 2008. It concluded the past year with 464.9 million kuna in revenue, which is 25 percent more than in the previous year. It plans to finish the current year with a gross profit of 109 million kuna.
Although Janaf is performing well, it has felt the impact of the crisis in recent months, which is manifested in a debt of 20 million kuna owed by clients in Croatia. Since Janaf earns most of its money from transporting oil and oil derivatives to refineries, and the only refinery in Croatia is owned by Ina, it is easy to conclude that most of this debt is owed by that company. In 2010, Janaf plans to invest 400 million kuna.
Investments are intended for oil and oil derivative storage facilities and the reversibility of the pipeline (so that oil can flow in both directions throughout the pipeline). This year, two tanks for oil derivatives in Sisak will also be completed, each with a capacity of 80 thousand tons, built by Đuro Đaković. – This year we would like to enter a higher stock exchange listing, but that will depend on the wishes of our owner. The works on the reversibility of the pipeline will also be completed this year – explained Ante Markov, CEO of Janaf. (Ante Livajić)
