The Atlantska plovidba Group achieved a profit of 49 million kuna in the first nine months, compared to a loss of 14.6 million kuna in the same period last year, according to the consolidated financial report published by the company on the Zagreb Stock Exchange.
The consolidated profit attributed to the equity holders of the parent company amounts to 50.3 million kuna. The reported results are expected, slightly better than planned, and are a result of a slight recovery in the global shipping market and higher freight rates compared to the same period last year, as well as better results from other activities considering the seasonal nature of their business, as stated in the explanation of the business results. It is also noted that the Group did not have liquidity issues. During the reporting period, the Group achieved total consolidated revenues of 718.8 million kuna, which is an increase of 5.1 percent compared to the same period last year. Shipping accounted for 67 percent of revenues, air transport 25 percent, and hospitality 8 percent.
The share of air transport and hospitality is increasing due to the seasonal nature of the business, it is stated. Total expenses of the Group in the first nine months amounted to 669.7 million kuna, which is 4.2 percent lower than those in the same period last year. Of these, 64 percent of total costs are attributed to shipping, 27 percent to air transport, and 9 percent to hospitality. The main activity of the Atlantska plovidba group is the transportation of bulk and oversized cargo in the international market and coastal transport of goods, as well as agency business, air transport, and hospitality as other activities of the group. The majority of the Group’s revenue is generated in the international market. At the end of the reporting period, the Group had a fleet of a total of 19 ships with an average age of 8.2 years. Within the tourism sector, the Group has stakes in the Grand Hotel Imperial and Hotel Lapad in Dubrovnik, as well as in air transport with Dubrovnik airline. At the end of September this year, the Group employed 714 workers. (H)
