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Croatia's Adris triples cons net profit y/y in H1

Author Annie Tsoneva
Croatia's Adris triples cons net profit y/y in H1 Author: Adris Grupa. License: All rights reserved.

ZAGREB (Croatia), July 27 (SeeNews) - Croatian diversified holding company Adris Group [ZSE:ADRS, ADRS2] said on Wednesday its consolidated net profit tripled year-on-year in the first half of 2022, reaching 157 million kuna ($ 21.20 million/20.9 million euro).

EBITDA totalled 461 million kuna in the six months through June, up 33% on the year, the group said in a filing to the Zagreb bourse.

The group boosted its total revenue 16% year-on-year to 2.9 billion kuna in the first half of 2022, as sales revenue rose 20% to 2.69 billion kuna.

Adris' tourism division doubled its sales revenue to 631 million kuna in the period under review. The revenue was also 5% higher compared to pre-pandemic 2019.

Its insurance arm, the country's top insurer Croatia Osiguranje [ZSE:CROS], reported gross written premiums of 2.181 billion kuna, up 9.3% on the year.

The group's health food manufacturing division, Cromaris, boosted its sales revenue 32% to 360 million kuna.

The preferred shares of Adris, which are part of the two main equity indices of the Zagreb Stock Exchange, traded at 397 kuna intraday on Wednesday, up 1.02%. Its ordinary shares last traded on Tuesday, when they closed flat at 430 kuna.

(1 euro=7.514 Croatian kuna)