April 25 (SeeNews) - Marina operator Adriatic Croatia International Club (ACI) said on Tuesday it recorded a non-consolidated net loss of 1.2 million euro ($1.3 million) in the first quarter of this year, compared to a net loss of 752,000 euro in the same period of last year.
The company's operating revenue reached 5.2 million euro in the period under review, up from 4.6 million euro, while EBITDA declined to 1.1 million euro from 1.4 million euro, ACI said in a unaudited financial statement submitted to the Zagreb Stock Exchange (ZSE).
Sales revenue rose 11% to 5.0 million euro.
Operating costs rose 18% on the year, or by 1.0 million euro, due to higher costs of services, salaries and larger amoritsation, it added.
The results are in line with the company's expectations as it prepared for the high tourism season, ACI explained.
The company employed 350 people at the end of March, up from 340 at the end of the first quarter of last year. It operates 22 marinas.
The Croatian state owns over 78% of Opatija-based ACI. The company's shares last traded on March 27, closing flat at 910 euro.
($ = 0.907 euro)