Zagreb - JANAF Plc. announced its financial statements for the period from January till September 2008. In the current accounting period, the crude oil quantities transported show a 6,8% decrease compared to the same period of the previous year and a 9,1% decrease compared to the planned quantities, which consequently resulted in lower realized revenues from the core business. The reduction in crude oil transport quantities has occurred mostly due to the local refinery overhaul and specific conditions on the crude oil market.
The total revenues for the January-September period in 2008 amount to HRK 261,7 mil., which makes a 21,0% increase when looking at the plan. The gross profit in the current period amounts to HRK 41,2 mil., thus being significantly higher than the planned one and showing a 12,4% increase as compared to the same period of the previous year.
The revenues obtained from the crude oil transport amount to HRK 156,6 mil., showing a slight decrease when compared both to the plan and the previous year. The revenues obtained from the crude oil storage reach HRK 33,8 mil., thus showing a decrease as compared to the previous year and a 7,5% increase in comparison with the planned ones. As regards the revenues obtained from the oil products storage, they amount to HRK 24,1 mil. and are down 1,7% when compared to the year 2007, showing at the same time also a 1,5% decrease when compared to the plan. In the operating revenues, the revenues from crude oil transport account for 62,2%, while the revenues from crude oil storage and oil products storage account for 13,5% and 9,5% respectively.
As regards the total expenses realized in the current accounting period, they amounted to HRK 220,5 mil., thus being for 1,9% higher as compared to the year 2007 and for 2,2% higher with respect to the plan for the first nine months of 2008.
The gross profit realized in the amount of HRK 41,3 mil. accounts for 16,4% of the total operating revenues. In the operating revenues reaching HRK 251,6 mil., other revenues from the business activities account for 13,8% and are related mostly to the sale of assets. The financial income, consisting of interest income (HRK 5,2 mil.) and foreign currency exchange gains (HRK 4,9 mil.) has covered entirely the financial expenses. The net profit for the first nine months of the current year amounts to HRK 33,0 mil.
In the nine-month period of 2008, the company has financed its current operating activities and investments by its own funds.
During the first nine months of 2008, there was no allocation of shares, and therefore no change occurred in the shareholders structure of the company.