Zagreb – JANAF, dioničko društvo (JANAF Plc.), a company listed on the Zagreb Stock Exchange, announced today, on 28 July 2016, the unaudited consolidated and unconsolidated financial statements for the period from 1 January until 30 June 2016.
In the stated period JANAF Plc. continued with the excellent performance, with an 18% growth of the total revenues compared to the same period of the last year and a 1,8% decrease in the total expenses compared to the same period of the last year.
The revenues obtained from the Company's core business – crude oil transport and storage of crude oil and petroleum products, are up by 21,3% compared to those realised in the same period of the previous year.
The revenues obtained from crude oil transport account for 63,6% of the revenues realised from the Company core business and are up by 28,2% compared to those realised in the same period of the last year, mostly due to higher crude oil transportation volumes for all foreign clients.
The revenues obtained from crude oil storage account for 25,5% of the revenues obtained from the core business and are for 17% higher than those of the same period of the last year, as a result of increased business activities and conclusion of new contracts with the world's major crude oil and petroleum products traders. The revenues from petroleum products storage account for 10,9% of the revenues obtained from the Company's core business.
Of the total core business revenues realised in the first half of 2016, 72,1% is realised from doing business with foreign clients, which is for 35,6% higher than the last year realisation.
The gross profit amounts to HRK 168,3 mil., while the net profit amounts to HRK 134,6 mil., thus making a 55,8% increase compared to the same period of the last year.
Moreover, JANAF's new development cycle is under realisation, with the investments amounting to around one billion kunas and intended for further 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 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), and to the construction of two additional crude oil storage tanks at the Omišalj Terminal.
Owing to the contracts on crude oil transport and storage of crude oil and petroleum products concluded for the year 2016, whose total value amounts to approx. HRK 630 million, JANAF has strengthened its market position and strategic significance in the security of crude oil supply of the refineries and countries of the South-Eastern and Central Europe, thus continuing the growth of its business activities and results.
JANAF has suggested to the Company's General Meeting the dividend payment for the year 2015, and the distribution of profit is expected to be made to the shareholders in the amount of HRK 133,2 mil. Since both the state and certain state institutions are JANAF's shareholders, JANAF will thus contribute to filling the state budget, and with the profit tax taken into account, it can be concluded that JANAF's support in maintaining the budget incomes is significant.