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Croatia's Adris Grupa to invest 405 mln euro by 2023

Author Iskra Pavlova
Croatia's Adris Grupa to invest 405 mln euro by 2023 Author: Adris Grupa. License: All rights reserved.

ZAGREB (Croatia), June 12 (SeeNews) - Croatian diversified conglomerate Adris Grupa [ZSE:ADRS-R-A] said it plans to invest 3 billion kuna ($459 million/405 million euro) in developing its three main business segments by 2023.

The main investment, of 2.2 billion kuna, will be made in projects aimed at further improvement of the quality of Adris' tourism services, the group said in a filing with the Zagreb bourse on Tuesday.

In addition, Adris will invest 435 million euro in its insurance business and 262 million kuna in the healthy food segment.

The group controls the largest insurer in the country - Croatia Osiguranje, while its tourism business comprises several hotel operators including Maistra and HUP-Zagreb.

Adris also owns aquaculture and fish processing company Cromaris.

The group also said it has invested 8.2 billion kuna in acquiring companies from the sectors of healthy food, tourism and insurance in the past 10 years.

Adris Grupa reported a 5% year-on-year rise in its consolidated net profit to 19 million kuna in the first quarter of 2019.

(1 euro = 7.41415 kuna)