Croatia: Adriatic Oil pipeline company Janaf’s reports profit 2,5 million euros, SEE Energy News
The Janaf’s revenues from storage and transport of oil and derivatives are higher than planned.
JANAF has announced unrevised and unconsolidated financial statements for the first quarter of this year. During this period, JANAF achieved the gross profit of 3,1 million euros and net profit of 2,5 million euros, which were higher by 4.9% than the realized profit in the same period last year.
Otherwise, the total revenues amounted to 14,5 million euros are at the level of the accomplishments of the previous year. The revenues from oil transportation, oil and derivates storage as well, amount to 13,9 million euros, and they are higher for 1% than in the previous year and for 4% of the planned amount.
The revenues from the oil transportation, amounting to 9,25 million euros, consist of 66.5% of the revenue from the core business of the Company, of which 89.4% was achieved in the international market.The specified revenues are increased compared to the previous year by 5.0%. The revenues from the storage of oil are amounting to 3,3 million euros, consist of 23.8% of income from core activities.
The revenues from derivates’ storage are amounting to 1,4 million euros which make 9.7% of the core activities are at the level of the achievements in the previous year, and compared to the plan they are increased by 6.9%. During the first quarter, a large investment project in Terminal Omisalj is finished in amount of 36 million euros, so that, in the next period, it is expected completion of the project at Terminal Zitnjak related to the storage of oil products.
Source; Serbia Energy See Desk