JANAF’s record-high performance – profit up by 33% in first nine months

28.10.2016. 13:30

Zagreb – JANAF, dioničko društvo (JANAF Plc.), a company listed on the Zagreb Stock Exchange, announced today, on 28 October 2016, the unaudited consolidated and unconsolidated financial statements for the period from 1 January until 30 September 2016.

In the first nine months, JANAF Plc. continued with achieving record business results, with a 9,2% growth of the total revenues compared to the same period of the last year and a 3,9% decrease in total expenses compared to the same period of the last year.

The Company’s financial indicators show the above average values – current liquidity ratio 9,8; debt ratio 0; cost-effectiveness ratio 1,76; EBITDA margin 72,84%.

Of the total core business revenues realised in the first nine months of 2016, 69,8% is realised from doing business with foreign clients, as a result of a 20% increase in exports compared to the same period of the last year.

The profit amounts to HRK 229,2 mil., which is for 33,4% higher than the profit realised in the same period of the previous year.

JANAF’s development cycle with investments amounting to around one billion kunas is aimed at the development of the storage capacities, facilities for improving the operational efficiency at terminals, facilities related to environmental protection and security, as well as energy efficiency. Further ongoing activities relate to the construction of two new crude oil storage tanks at the Omišalj Terminal and the completion of the project of constructing a submarine oil pipeline, as part of the EU project of common interest entitled “JANAF-Adria pipelines”, aimed at enhancing the security of transport and crude oil supply to consumers.