April 3 (SeeNews) - Croatian oil pipeline operator Jadranski Naftovod (Janaf) [ZSE:JNAF-R-A] said its consolidated net profit fell to 319.9 million kuna ($45.3 million/41.9 million euro) last year, from 371.1 million kuna in 2018.
Janaf Group's total revenue decreased 8.6% on the year to 714.3 million kuna in 2019, while total costs dropped 4% to 394.4 million kuna, it said in a filing with the Zagreb Stock Exchange (ZSE) on Thursday.
The group is made up of Janaf as the parent company and two subsidiaries one of which is based in Croatia and the other in Bosnia and Herzegovina.
Revenues from the parent company's core business - oil transportation and storage of oil and oil products - totalled 668.7 million kuna last year, 7.1% below the 2018 level.
The company invested 408.6 million kuna in long-term tangible and intangible assets last year.
Janaf has terminals on the island of Krk, as well as in Sisak, Virje, Slavonski Brod and Zitnjak, and operates 631 kilometres of pipelines. It has 1.94 million cubic metres of storage capacity for oil and 222,000 cu m of capacity for the storage of petroleum products.
The company's shares closed unchanged at 3,700 kuna on the ZSE on Thursday. They did not trade by 1049 CET on Friday.
(1 euro = 7.62663 kuna)