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Croatia's Valamar Riviera revises up 2019 EBITDA, revenue estimates

Author Iskra Pavlova
Croatia's Valamar Riviera revises up 2019 EBITDA, revenue estimates Photo: Valamar

ZAGREB (Croatia), January 21 (SeeNews) - Croatian tourism company Valamar Riviera [ZSE:RIVP] said it is revising up its estimated earnings before interest, taxes, depreciation and amortisation (EBITDA) for 2019 to 765-770 million kuna ($114-115 million/103-104 million euro) from the previously expected 750-760 million kuna, based on preliminary unrevised consolidated figures.

It is also lifting to 2.205-2.215 billion kuna from 2.175-2.000 billion kuna its estimate for its operating revenue generated last year, Valamar said in a statement with the Zagreb bourse on Monday.

"The growth of expected business results versus the previously announced range is primarily due to higher one-off revenue from the sale of non-core long-term material assets belonging to the company," the statement said without elaborating.

Valamar's shares closed up 0.26% at 38 kuna on the Zagreb bourse on Monday, when the announcement was made. They traded down 0.26% at 37.90 kuna by 09:30 CET on Tuesday.

(1 euro = 7.43773 kuna)

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