Jadranski naftovod d d : JANAF has achieved a 33% revenue growth

Zagreb: On July 27, 2023, JANAF Plc. published its half-yearly financial statements for the 01/01/2023 - 30/06/2023 period, which point to its strong and continued revenue growth.

In the first six months of 2023, JANAF's total revenue amounted to almost 74 million euros, namely 33% more than in the same period of the previous year. In the observed period, gross profit in the amount of almost 39 million euros and net profit of almost 32 million euros were generated. The Company's core business, oil transportation and storage of oil and oil derivatives, was responsible for the said revenue growth,as it generated almost EUR 72 million, namely 32% more than in the previous year. As much as 72% of the Company's core business revenue was generated in business transactions with foreign clients, which reaffirmed JANAF as an export-oriented Company.

"We are extremely happy with the fact that the first half of 2023 was yet another period in which JANAF's operating results were the best so far. Thanks to the synergy between its employees, Management Board and owners, as well as its excellent operating results, JANAF is ready to invest in both the infrastructure and renewable energy sources. We are confident that all our upcoming business activities will contribute to the Company's growth and profitability", said Stjepan Adanić, MSc, Chairman of the Management Board.

"The financial results we achieved were largely due to the growth of the Company's core business revenue generated by providing transportation and storage services, with business transactions with foreign clients still accounting for the largest revenue share. We will continue to invest in the transport and storage system, as well as to supply this part of Europe with energy products in a safe manner, as the trust and satisfaction of our partners will ensure our continued business growth. Encouraged by our continued operation and exceptional operating results, we will continue to strengthen our role in the European energy market and we are ready for new business challenges and investments", said Vladislav Veselica, Member of the Management Board, pointing out that the first six months of the year were marked by the Company entering into new transportation and storage agreements, namely with NIS, the MOL Group, the Hydrocarbon Agency, Vitol, INA, and Litasco.

In the first half of 2023, JANAF has also hosted two business conventions. In June, the Company organised its first Networking lunch, a business gathering during which it presented its operations to the business community, and potential collaborations and partnerships were discussed. Re-Power EU: Current Challenges of European Energy Security, the traditional international energy and oil conference was held in March, bringing together the leaders of the energy sector from Europe and neighbouring countries.