May 5 (SeeNews) - Croatian oil pipeline operator Jadranski Naftovod (Janaf) [ZSE:JNAF-R-A] said its consolidated net profit fell to 73.6 million kuna ($10.5 million/9.7 million euro) in the first quarter of 2020, from 75.8 million kuna a year earlier.
Janaf Group's total revenue increased by 2.8% on the year to 180.8 million kuna in the January-March period, while total costs added 9% to 910 million kuna, it said in a filing with the Zagreb Stock Exchange (ZSE) last week.
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.
The company also said it invested 112.3 million kuna in long-term tangible and intangible assets in the first quarter of 2020.
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 last traded on April 29 on ZSE, closing 4.65% higher at 4,500 kuna.
(1 euro = 7.568 kuna)