JANAF records another strong period

28.10.2021. 11:55

Zagreb – JANAF Plc., company listed on the Zagreb Stock Exchange, released today its business results for the first nine months of 2021. In the first three quarters, the Company generated a total of HRK 565 million in revenues, 5.3% more than planned, and has thus continued with successful performance in 2021.

JANAF's gross profit in this period was almost HRK 240 million, while the net profit amounted to HRK 196.4 million. Revenues from the Company's core business – crude oil transport and storage of crude oil and petroleum products – amounted to HRK 555.3 million, exceeding the forecast revenues by 5%. Operations with foreign customers generated 62% of core activity revenues, testifying to the Company's focus on exports. On the Croatian market, the Company's core business activity has generated HRK 211.1 million in revenues, which is 9.4% more than planned.

The Company's financial indicators show above-average values, with an EBITDA margin of 70.85%, efficiency ratio of 1.72 and current liquidity ratio of 17.87. During the given period, the Company invested close to HRK 87 million in storage facilities, surveillance, management, safety and security, protection, and IT systems.

"Business decisions made by this Management Board contributed to positive business results, which led to the financial strengthening of JANAF. The Management Board's prudent and professional approach to business policy has helped eliminate existing risks and has steadily driven JANAF's growth, to the satisfaction of our shareholders, employees, and other interested parties. Results such as these are promising for the future of this energy company with strategic national importance, which is about to finalize its long-term low-carbon development strategy with guidelines for business diversification towards a green economy", said Mr. Stjepan Adanić, MSc., Chairman of the Management Board

Commenting on the business results, Mr. Vladislav Veselica, Management Board Member pointed out: "A successful third quarter is another proof that the current Management Board excellently developed a business strategy. We have gained and maintained the trust of our partners and clients – all renowned Croatian and international oil companies and traders – which was key to achieving strong business results. We are currently witnessing new turbulences in the oil market, even though this is common in our industry, and we are prepared to face any challenges in the upcoming period and turn them into opportunities for JANAF's development and growth."