Croatia's LRH boosts EBITDA by 4% in 2023

Sales revenue rose 17% to 55.9 million euro last year, LRH said in a non-consolidated audited financial report last week.

EBIT was positive at 2.5 million euro last year, compared to a negative EBIT of 700,000 euro in 2022.

The company’s revenue rose 16% on the year to record-high 58.9 million euro in 2023. Operating costs surged 23% year-on-year to 46.2 million euro.

The number of overnights at LRH's hotels last year rose 12% to 680,010. The occupancy rate of its hotel capacity reached 67.9% last year, increasing from 64.3% in 2022. The daily average price per room rose 2% to 128 euro in 2023.

In its outlook for 2024, the company said that strong demand for its capacities continues and by mid-February the bookings were 33% higher compared to mid-February 2023.

LRH's shares were the biggest gainer intraday on March 6 on the Zagreb bourse, trading 5.10% higher at 330 euro.

($ = 0.919 euro)