Janaf Achieved a Profit of 145 Million Kuna in the First Half of the Year

The Adriatic Pipeline achieved a net profit of 145.4 million kuna in the first half of this year, which is 1.2 percent higher than in the same period last year, according to data from the financial report published by the company on Friday.

Total revenues of Janaf in the first six months of this year amounted to 357.3 million kuna, which is 3.9 percent higher than planned, but a decrease of 3.8 percent compared to the same period last year.

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The management of Janaf explains this decline in total revenues on a year-on-year basis by the drop in the average exchange rate of the US dollar by 11 percent compared to the same period last year. They state that total revenues of the company measured in US dollars recorded an increase of 8.2 percent compared to the same period last year, and are 8.6 percent higher than planned revenues.

In total revenues, business revenues account for 98.6 percent. The business revenues of the company in the first six months of this year amounted to 352.4 million kuna, which is a decrease of 2.7 percent compared to the same period last year, but 3.1 percent higher than planned.

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As highlighted by the company’s management in the summary of business results, business with foreign customers generated 234.6 million kuna, or 68.4 percent of revenues from core activities, while in the domestic market, 108.2 million kuna was generated, or 31.6 percent of Janaf’s core activity revenues.

Total expenses of Janaf in the first half of this year amounted to 179.9 million kuna, which is 8.3 percent less than the same time last year, and 18.5 percent less than planned expenses.

Janaf’s gross profit in the first six months amounts to 177.4 million kuna, and net profit to 145.4 million kuna. Both gross and net profit are 1.2 percent higher compared to the same period last year, and 44 percent higher than planned, according to the report.

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In the first half of the year, Janaf invested 248.6 million kuna in long-term tangible and intangible assets financed from its own funds.