JANAF achieves excellent business results

27.10.2022. 13:28

Zagreb – Jadranski naftovod (JANAF Plc.) (ZSE:JNAF) announced today, 27 October 2022, that it generated exceptional business results in the first 9 months of 2022: almost 662 million kuna in total revenues, which is 17% more compared to the same period last year.

''Owing to the shared efforts of all its employees and management, Jadranski naftovod Plc. achieved exceptionally successful business results in the considered nine-month period. We are extremely proud and happy with the fact that, throughout the last quarter, the strategic importance of JANAF Plc. was officially confirmed by the EU's highest bodies, which have recognized us as a key element in the European energy infrastructure and as a guarantee of the European continent's energy independence during this period of especially dynamic and complex geopolitical circumstances. Thanks to the properly selected strategic direction and the proven trust of our partners and other stakeholders, JANAF continues to achieve good business results, much to the satisfaction of its owners, and to offer the guarantee of energy security of the Republic of Croatia and the European Union, as well as the neighboring countries. We will continue to strengthen our relationships with our partners and invest in the development of our business, which will contribute to the growth and development of the company, so that we will be ready to meet all the challenges that the future holds'', said JANAF's Management Board, headed by Management Board Chairman Stjepan Adanić, MSc, and Board Member Vladislav Veselica.

According to the financial report published on the capital markets, in the first nine months of 2022 the Company generated a gross profit of HRK 319 million and a net profit of HRK 262 million, which is 33% more compared to the same period last year. JANAF's core activity, oil transport and storage of oil and petroleum products, still makes up the majority of its total revenues. Revenues from the core activity have increased by 17% compared to the same period last year, amounting to HRK 649 million. Revenues from sales abroad account for almost 68% of the Company's operating revenues in the observed period and are 28% higher compared to the previous year, demonstrating the Company's continued focus on exports.

JANAF continues to invest in storage space, pipelines, facilities and other infrastructure, surveillance and management systems and the digitalisation of business processes in order to maintain competitiveness on the oil market in the wider region and ensure energy sovereignty of the Republic of Croatia and the European Union as a whole.