Croatia, JANAF recorded a net profit in the amount of 34.7 million euros in the first nine months of 2022

, SEE Energy News

Croatian oil transportation company JANAF recorded a net profit in the amount of 34.7 million euros in the first nine months of 2022, which is a 33.3 % increase compared to the same period last year.

The company’s revenues amounted to 87.7 million euros in the first nine months of the year, which is 17.1 % more than last year. The majority of total revenues are accounted for operational revenues which amounted to 87 million euros, which is by 16.9 % more than in the first nine months of 2021 and by 26.3 % more than planned for the January-September 2022 period.

Revenues from JANAF’s core business, transportation and storage of oil and oil derivatives, amounted to 86 million euros, an increase by 17 % compared to the same period in 2021. Revenues from foreign companies accounted from 68 % of JANAF’s total revenues in the first nine months of 2022 and were 28 % higher compared to last year. On the other hand, revenues from local companies dropped by 1.1 % year-on-year.

In the first nine months of the year, revenues from oil transportation amounted to 54.8 million euros (63.6 % of core revenues), 22.3 million eu- ros from crude oil storage (25.9 %) and 9 million euros from oil products storage (10.5 %).

The company’s total expenditures in the first nine months of the year amounted to 45.4 million euros, which is 5.4 % more compared to the same period last year, due to amortization increases as a result of completed investment projects.

JANAF operates 631 kilometers of oil pipeline in Croatia and owns several oil terminals, with total storage capacity of 1.94 million cubic meters of oil and 220,000 cubic meters of petroleum products.