February 28 (SeeNews) - Croatian hotel operator Valamar Riviera [ZSE:RIVP] said on Friday its consolidated net profit increased by 27.9% year-on-year in 2019, reaching 305.9 million kuna ($44.9 million/41 million euro).
Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 10.9% to 769 million kuna in 2019, the company said in its audited 2019 financial report.
In 2019, Valamar Riviera's consolidated total revenues rose 10.1% year-on-year to 2.2 billion kuna, while sales revenues climbed 9.1% to 2.1 billion kuna.
Valamar recorded a 4.9% rise in the number of overnight stays to 6.8 million last year, while accommodation revenues increased by 4.2% to 2.9 billion kuna.
In 2019, Valamar's investment cycle increased to some 800 million kuna, from 703.6 million kuna in 2018.
Valamar's shares traded 1.48% lower at 33.30 kuna by 1605 CET on the Zagreb Stock Exchange.
(1 euro = 7.42863 kuna)