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Croatia's Arena pares pre-tax loss 15.7% y/y in H1

Author Annie Tsoneva
Croatia's Arena pares pre-tax loss 15.7% y/y in H1 Arena Hospitality's Park Plaza Verudela Pula, Photo: PPHE Hotel Group

ZAGREB (Croatia), August 4 (SeeNews) - Croatian hotel owner and operator Arena Hospitality [ZSE:ARNT] said it narrowed its consolidated pre-tax loss to 86.2 million kuna ($11.7 million/ 11.5 million euro) in the first half of this year from 102.3 million kuna in the same period of 2021.

The overall revenue rose 226.8 million kuna in the first six months of 2022 from 56.3 million kuna in the same period of last year, the company said in a filing to the Zagreb bourse last week.

Sales revenue from accommodation services went up to 173.8 million kuna from 42.7 million.

EBITDA swung to a positive 6.4 million kuna in the first half of this year from a negative 49.3 million kuna in January-June 2021.

Arena Hospitality owns hotels and and campsites in Croatia, Austria, Germany, Hungary and Serbia.

Its shares traded 2.46% lower at 238 kuna intraday on Thursday on the Zagreb Stock Exchange where it was the most traded stock with a turnover of 292,050 kuna.

(1 euro=7.514 Croatian kuna)

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