Croatia: Oil transport company JANAF reports Net profit increased by 3.4%

, SEE Energy News

JANAF JSC (joint-stock company) has made a gross profit of 52.1 millions and net profit of 5, 5 MEUR in the first half of the year, which were higher by 3.4% than the realized profit in the same period last year. Otherwise, total revenues amounted to 29, 8 MEUR at the level of the achievements of the previous year.

Revenues from crude oil transportation and oil and petroleum productsstorage amount to 28, 5 MEUR and they are higherby 2.7% than in the previous year and 7.6% of the planned amounts.

Revenues achieved from the oil transport in the amount of 19, 6 MEUR make 68.8% of the revenue from the core business of the Company, of which 83.6% was achieved on the international market. Such income was increased compared to the previous year by 5.3%.

Revenues from the oil storagein the amount of 6, 1 MEUR make 21.7% of income from core activities. Revenue from storage products in the amount of 2, 6 MEUR make 9.4% of revenue from the core business of the Company.

The major investment projects at the terminal Omisalj and Zitnjak totaling 84 MEUR were completed in the first half of 2014th. With the implementation of the above mentioned projects was completed a JANAF major investment cycle worth 130 MEUR.