By 2023, Adris will invest 2.2 billion kuna in the tourism part of the group

first_imgMaistra – continued growth of all key business indicators In 2018, the Adris Group generated total revenue in the amount of HRK 5,79 billion, which is an increase of five percent. Operating revenues amounted to HRK 5,65 billion or 13 percent more than in the previous year. Revenues from the sale of goods and services amounted to HRK 5,06 billion, which is 16 percent more than last year. Revenue of HRK 3,55 billion was generated on the domestic market, and HRK 1,51 billion on foreign markets, or 12 percent more than last year. Net profit amounts to HRK 446 million, which is an increase of 19 percent. By 2023, Adris will invest almost three billion kuna in the development of its business. The majority of investments, worth 2.2 billion kuna, relate to further raising the quality of service in the tourism part of the business. In 2018, the process of ownership consolidation in the company HUP-Zagreb was completed. The session of the General Assembly of the Adris Group, held in Rovinj, ended the holding of the annual general meetings of the companies within the Group. HUP-Zagreb is a company that significantly contributes to the strengthening of the tourism part of the Group and which also achieves the growth of all key business indicators. These indicators, in addition to Zagreb hotels, include the operations of Dubrovnik hotels in the branch Dubrovnik Riviera Hotels. In 2018, HUP-Zagreb achieved seven percent more overnight stays, with an increase in the average price of overnight stays of eight percent. Operating revenues increased by 10 percent and amounted to HRK 448 million. Profit before interest, taxes, depreciation and amortization (EBITDA) amounts to HRK 176 million and is 17 percent higher than last year. Earnings before interest and taxes (EBIT) increased by 25 percent and amounted to HRK 135 million.  In accordance with the published agenda, after the General Assembly adopted the financial statements for 2018, it also made a decision on the use of the 2018 profit. In 2018, Maistra achieved four percent more overnight stays, with an increase in the average price of overnight stays of four percent. Operating revenues increased by nine percent and amounted to HRK 1,25 billion. Profit before interest, taxes, depreciation and amortization (EBITDA) from ordinary activities amounts to HRK 449 million and is five percent higher than last year. Profit before interest and taxes (EBIT) from ordinary activities increased by four percent and amounted to HRK 275 million. The realized net operating profit amounts to HRK 201 million.  Ante Vlahović is leaving the head of the Adris group  In accordance with the decision of the General Assembly on the payment of a dividend of HRK 18,2 per share, the amount of HRK 298,5 million will be allocated from the undistributed retained earnings of the Company for the payment of a dividend. The dividend will be paid on July 19, 2019, to the accounts of the shareholders according to the balance and statement of the Central Depository and Clearing Company on June 28, 2019. The calculated amount of dividend on treasury shares is retained in retained earnings.  At the beginning of 2019, Adris completed the process of acquiring a 2018% stake in the company. In June 75, the process of functional merger in the tourism part began in order for Maistra and HUP-Zagreb to function as a single system, which will enable the use of economies of scale and synergy effects. The tourism part of the Group has 84 percent of products in solid facilities and as much as XNUMX percent of hotel accommodation at the level of four and five stars. Maistra is a leading Croatian tourist company according to the quality criteria of the tourist portfolio. A dividend of HRK 18,2 per share will be paid on July 19 By 2023, Adris will invest more than two billion kuna in the tourism part of the Group, which will put 95 percent of hotel capacity at the highest level of supply. In addition to investments in Rovinj, Vrsar, Zagreb and Dubrovnik, investments are also planned in Split, a growing and recognizable Croatian tourist destination. In addition to capital investment, a key lever for growth is investing in visibility and experiences in tourist destinations, which directly and positively affects pricing management policy. In 2018, all Adris companies recorded growth in key quantitative and financial business indicators. All three businesses saw double-digit net profit growth: healthy food 11 percent, tourism 24 percent and insurance 33 percent. Consolidated, growth is 29 percent. If the company HUP-Zagreb is added to that, Adris’s operations recorded a consolidated growth of net profit of 52 percent. With the acquisition of HUP-Zagreb, Adris has further strengthened its tourism business, and has made all the necessary reservations related to Agrokor, reports Adris. Finally, the Assembly gave discharge to the members of the Management Board and the Supervisory Board. The current President of the Management Board, mr. Vlahović, was elected a member of the Supervisory Board with the beginning of his term on January 1, 2020. Vitomir Palinec, Finance Director of the Adris Group, was also elected a member of the Supervisory Board, and his term of office begins with the conclusion of the General Assembly at which he was elected.last_img

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