JANAF successfully completed major investment cycle worth more than one billion kunas

27.06.2014. 09:22

Zagreb – By the project of reconstruction and upgrade of the Žitnjak Terminal in Zagreb, which will be commissioned in the beginning of July of this year, JANAF Plc. successfully completed a major investment cycle worth more than one billion kunas, which was financed by its own funds. The investment cycle, besides the Žitnjak Terminal, has comprised also the projects of reconstruction-upgrade of the storage tank farms of the Omišalj and Žitnjak Terminals. In the last years, the Company has diversified its business operations by construction of storage capacities for storing crude oil and oil products for the purposes of compulsory stocks, reversal flow transportation and commercial storage.

The total value of works at the Žitnjak Terminal amounts to more than HRK 372 million. The terminal has been envisaged as regional centre for receipt, dispatch and storage of oil products for the needs of the state commodity reserves and commercial clients.

In the first quarter 2014, three newly built crude oil storage tanks have been put into operation at the JANAF’s Omišalj Terminal, in which JANAF Plc. invested approx. HRK 282 mil.

In November 2013, five newly built crude oil storage tanks have been put into operation at the JANAF’s Sisak Terminal, with the investment of more than HRK 415 million. Thus, the Sisak Terminal has strengthen its position of a strategic terminal for diversification and security of crude oil supply of the refineries in Croatia and South-Eastern and Central European countries.

Good business results enabled JANAF to finance the project by its own financial funds. In the year 2013, JANAF realized the gross profit in the amount of HRK 113,4 mil., thus being for 10,5% higher than the profit realized in the same period last year. In 2012 the obtained profit amounted to HRK 102,5 million, showing a 35,6% increase in comparison with the profit realized in the year 2011. Moreover, in 2014 good performance continues and in the first quarter the realized gross profit amounted to HRK 23,8 mil., which is up by 4,9% compared to the profit realized in the same period of the previous year. Furthermore, it needs to be pointed out that JANAF Plc. is a liquid company, which is not a beneficiary of the state budget nor any government subsidies or grants.

This year JANAF Plc. celebrates its 40th anniversary. In that 40-year period the volumes of 196,4 mil. tons of crude were transported, of which 60% for foreign users, by applying the world’s highest environmental and technological standards.

JANAF is recognized also as EU strategic oil pipeline, through the project of common interest entitled: “JANAF-Adria pipelines: reconstruction, upgrade, maintenance and capacity increase of the existing JANAF and Adria oil pipelines linking Croatian Omišalj seaport to the Southern Druzbha”. The list of 248 energy projects, of which six (6) relate to oil pipelines, was adopted by the European Commission on 14 October 2013.

Owing to good business performance, the JANAF Management Board has positioned the company as strategically significant energy and economic company both in Croatia and in the region and has turned it into a very stable company, both economically and financially. Thus, the strategic goals are realized in terms of security of oil products supply to consumers and crude oil transport, safety and protection of environment, humans and equipment, increase in crude oil transport and storage of crude oil and its products, as well as profitability increase.