JANAF's 2015 net profit HRK 203.4 mln, twice as much as in 2014

The Adriatic oil pipeline operator JANAF ended 2015 with a net profit of HRK 203.4 million, which is twice as much as in 2014, the company reported on Tuesday.

As a comparison, in 2014 JANAF generated a net profit of HRK 100.3 million, shows the company's unaudited financial statement for 2015.

The company's gross profit amounted to HRK 255.1 million and was up by 115.9% compared with 2014.

JANAF's total revenue in 2015 was HRK 726.7 million, which was 48.4% higher than in 2014 and 37.4% more than planned.

JANAF's core business - transport and storage of crude oil and petroleum products - generated a revenue of HRK 657.4 million, a rise of 47.5% compared to 2014 and 28.3% more than planned. Revenue from sales abroad amounted to HRK 439.2 million or 59.6% more than in 2014 and 38.1% more than planned.

Total expenditure amounted to HRK 471.6 million, which is 26.9% more than compared to the year before and 17.2% more than planned. Operating costs accounted for 94.9% of total expenditure.

Investments underway as at 31 December 2015 amount to HRK 338.6 million, the company reported.

At the end of 2015 JANAF concluded new contracts for crude oil transport and storage of crude oil and petroleum products for 2016 worth close to HRK 500 million, which clearly indicates the continuation of growth in the company's business activities, JANAF reported.

Last update: Tue, 02/02/2016 - 15:42

More from Business

AT&T agrees to buy Time Warner, reports say

Telecommunications giant AT&T has agreed to buy media conglomerate Time Warner in a deal worth 80 billion...

Bombardier announces 7,500 job cuts as part of restructuring

Canadian aircraft and train manufacturer Bombardier will cut a further 7,500 jobs as part of its ongoing...

Tobacco giant BAT makes 47-billion-dollar takeover bid for US rival

British American Tobacco Plc said on Friday it has offered some 47 billion dollars to acquire 57.8 per cent of...

ECB to hold rates, decides against extending bond-buying scheme

The European Central Bank left its key interest rates at historic lows on Thursday and left its 80-billion-euro-a-...

Nissan finishes purchase of 34-per-cent stake in Mitsubishi Motors

Nissan Motor has completed its purchase of a 34-per-cent stake in scandal-plagued Mitsubishi Motors for 237 billion...