Croatian oil transportation company JANAF reported a net profit of 13 million euros in the first quarter of 2026, representing a decline of 13% year-on-year compared to the same period last year.
Despite the decrease in net earnings, the company posted a stable overall performance, generating total revenue of 35 million euros and a gross profit of nearly 16 million euros. Core operations, mainly crude oil transport and storage of oil and petroleum products, contributed approximately 33 million euros to total revenue.
International business remained the dominant source of income. Around 72% of revenue from core activities, or close to 24 million euros, was generated from foreign clients, while the domestic market accounted for just over 9 million euros.
Management highlighted that geopolitical tensions and broader energy market uncertainty significantly shaped operating conditions in early 2026. Nevertheless, the company emphasized that its financial performance remains above the national average, enabling continued investment in strategic development projects.
These initiatives include the expansion of storage capacities, diversification into renewable energy, and the pursuit of international opportunities, including planned activities in Kazakhstan.
JANAF aims to further strengthen its position as a key regional energy logistics hub, while gradually transitioning toward a more diversified and integrated energy business model designed to enhance long-term resilience in a volatile market environment.
