Croatia, JANAF recorded a net profit in the amount of 9 million euros in Q1 2022

, SEE Energy News

Croatian oil transportation company JANAF recorded a net profit in the amount of 9 million euros in the first quarter of 2022, compared to a profit of 10.1 million euros in the same period last year .

The company’s total revenues amounted to 25.7 million euros in the first three months of the year, down 2.1 % on the year, but 13.9 % higher than planned. Revenues from core business, transportation and storage of oil and oil derivatives amounted to 25.3 million euros, down 1.9 % on the year but 13.7% above plan.

Some 66 % of the company’s revenues or 63.6 million euros originated from contracts with foreign clients.

Total expenditures were 5.8 % higher year-on- year, amounting to 14.7 million euros due to increased amortization costs.

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.