Adris Group: A dividend of three euros per share has been proposed

The Management Board and the Supervisory Board Adris Group proposed to the General Assembly on Tuesday the payment of a dividend of three euros per share from retained earnings generated after 2012, the company reported, which is an increase of 43 cents compared to last year.

The Supervisory Board of Adris Group discussed and confirmed the revised consolidated and unconsolidated annual financial reports for 2024 at its meeting on Tuesday and adopted the proposals for decisions to be presented to the General Assembly. The company’s Management Board has also decided to convene the General Assembly of the Company, which will be held on June 17, 2025, starting at 1:00 PM at the company’s headquarters in Rovinj, as stated by Adris.

The right to receive the dividend belongs to all shareholders of the company who are registered as shareholders in the depository of the Central Clearing Depository on July 3rd, and it will be paid on July 24th.

In explaining the business results for 2024, CEO Marko Remenar emphasized that in a ‘unstable, changing, and highly uncertain environment,’ Adris Group operated successfully as a whole. He noted that there was growth in revenue, operating profit, and net profit. This year, 200 million euros were invested, and after several years of preparation, an ambitious three-year investment cycle amounting to 600 million euros was launched.

– In the past year, we invested a third of that amount in growth and development. Key investments include green energy, the construction of the Marjan hotel in Split, enhancing the quality of the tourism offer in Istria and Zagreb, and investments in the health segment of Croatia osiguranje. The construction of six power plants in partnership with Encrom is in the final phase, and their commissioning is currently underway. This has allowed us to build a well-balanced and Adris-adapted portfolio of wind and solar power plants, ensuring the stability of renewable energy sources for the entire system and strengthening the Group’s resilience to potential further energy shocks. In implementing our strategy, we invest in the most resilient segments of business, such as luxury tourism, in diversification and strengthening the resilience of the system, in green energy, and in complementary activities, such as healthcare. At the same time, through digital transformation, we enhance the competitiveness and operational efficiency of all business segments. Despite significant investments, the Group remains financially stable, low-leveraged, and financially strong – concluded Remenar.

Consolidated net profit of 94 million euros

In 2024, Adris Group achieved a total consolidated revenue of 1.1 billion euros, which is 10 percent higher compared to the same period last year. Revenue from the sale of goods and services amounted to one billion euros and is 10 percent higher than the revenue generated in the previous year.

Consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) was 185 million euros, which is eight percent higher than last year’s. The reported net profit for 2024 amounts to 87 million euros, representing a growth of six percent. The consolidated net profit from regular operations amounts to 94 million euros. The net profit after minority interests amounts to 67 million euros and, compared to the previous year, is six percent higher. The report highlighted that the reported net profit in 2024 was influenced by one-time items, with the largest impact coming from write-offs related to the new investment cycle in tourism. The operations of the tourism segment of the Group in 2024 were also burdened by the increase in concession fees, the inflationary effect of labor costs, and the rise in depreciation costs, as stated in the announcement.

In 2024, the Group invested 200 million euros in the growth and development of its businesses, of which 85 million euros were allocated to the development of green energy projects. The consolidated leverage of the Group stands at 1.3 times EBITDA, indicating low leverage and financial stability of the system, as well as significant investment potential for further growth and development, according to the announcement.