Adris Group achieved a net profit of HRK 54 million in the first half of the year

Adris Group achieved a net profit of HRK 54 million in the first half of the year, compared to a loss of HRK 45.4 million in the same period last year, the company announced on Thursday.

Total consolidated revenues reached HRK 2.48 billion, which is 16 percent higher compared to the first six months of last year. Meanwhile, revenue from the sale of goods and services amounted to HRK 2.24 billion, which is 17 percent higher.

Consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to HRK 357 million, representing a growth of 31 percent.

The statement notes that due to the ongoing coronavirus pandemic, business activity in the tourism segment of the Group remains reduced.

The tourism segment generated revenues from the sale of goods and services amounting to HRK 283 million, representing a growth of 138 percent compared to last year, but this is only 49 percent of revenues from 2019.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to HRK 47 million, while EBIT was minus HRK 99 million.

– Results for July and bookings at this time show that there is significant interest in guest arrivals in the continuation of the main season and the post-season – the statement notes.

In the tourism segment of the Group, numerous transformational initiatives have been launched in all areas – marketing, sales, operations, and support functions. There is a particular emphasis on improving customer experience, revenue management using advanced analytics, and further development of direct sales channels.

This year, investments are also being made to improve existing products, mostly in shared content in camps.

Planned investments this year amount to approximately HRK 200 million, and preparations for the renovation projects of Zagreb hotels and the Split hotel Marjan have also continued, it is stated.

Croatia Insurance – profit growth in the first half of the year

Croatia Insurance achieved a consolidated net profit of HRK 209 million in the first half of the year, representing a growth of two percent.

The total gross written premium of Croatia Insurance in Croatia amounted to HRK 1.68 billion or eight percent more compared to the same period last year.

The consolidated gross written premium, including regional branches, amounts to HRK 1.99 billion and is seven percent higher than last year’s.

Croatia Insurance is a leader in the Croatian market, with a total market share of 28 percent, it is stated.

Cromaris achieved a 17 percent increase in sales volume and a 20 percent increase in exports

Cromaris achieved earnings before interest, taxes, depreciation, and amortization (EBITDA) of HRK 33 million in the first half of the year, representing a growth of 23 percent, while net profit amounts to HRK 7.9 million.

Revenue from the sale of goods and services amounts to HRK 272 million, representing a growth of 16 percent.

Cromaris achieved sales of 5,520 tons of fresh fish equivalent in the first half of the year, which is 17 percent more than in the first six months of last year.

In export markets, a volume increase of 20 percent was achieved, primarily due to strong growth in the markets of Italy, Switzerland, France, and Poland.

Cromaris continues to achieve a high share of sales in foreign markets – 87 percent of sales volume and 88 percent of sales revenue.

Revenue from differentiated products increased by 10 percent and currently accounts for 45 percent of total sales, it is stated.

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