JANAF’s total revenue increased by 18.8%

JANAF today announced its unaudited consolidated and unconsolidated financial statements for the period from January 1 to March 31, 2016 (Q1).

During the reported period, JANAF d.d. achieved exceptionally good business results with a total revenue increase of 18.8% compared to the same period last year and a decrease in total expenses of 2.9% compared to the same period last year.

Revenue from the core activities of the Company – oil transportation and storage of oil and oil derivatives increased by 23.9% compared to the same period last year.

Revenue from oil transportation accounts for 60.6% of the revenue from the core activities of the Company, and increased by 18.6% compared to the same period last year, primarily due to contracted new oil transportation jobs for all foreign customers.

The revenue generated from oil storage accounts for 27.9% of the revenue from core activities and is up by 53.7% compared to the same period last year, which is a result of increased activities related to attracting new foreign customers and signing new contracts for oil storage services. Revenue from the storage of derivatives is at the same level as last year and accounts for 11.5% of the revenue from the core activities of the Company.

Of the total business revenue achieved in the first quarter of 2016, 74.0% was generated from operations with foreign customers.

Gross profit amounts to 67.1 million kuna, while net profit amounts to 53.7 million kuna, representing a profit increase of 85.4% compared to the same period last year.

Total investments in projects over the five-year period ending in 2015 amounted to 1.04 billion kuna, and a large portion of the planned investments from that period has been completed. Ongoing investments as of March 31, 2016, amount to 380.1 million kuna.

JANAF d.d. has contracted jobs for oil transportation and storage of oil and oil derivatives for 2016, with a total value of approximately 630 million kuna, which is a sure indicator of continued growth in business activities, resulting in good business results.