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Croatian ferry company posts results Croatian ferry company posts results

Jadrolinija releases data from first six months of 2017

By  Sep 29, 2017

Following the record-breaking tourist season, data from the semi-annual report on Jadrolinija’s passenger traffic show that in the first six months of this year, the largest Croatian passenger and car transport company achieved excellent results.

Jadrolinija carried 4.2 million passengers and more than 1 million vehicles in the mentioned period or 10.6 percent more passengers and 12 percent more vehicles in comparison to the first six months last year. The company increased the total revenues by 10.2 percent to almost 363 million Kunas.

The most significant revenue growth of 42.5 percent was achieved on international lines such as the Split-Ancona line and the new one introduced this season between Bar (Montenegro) and Bari (Italy).

The revenue growth in the national maritime traffic was also achieved due to the earlier schedule of the seasonal fast-ferry line Dubrovnik-Korcula-Hvar-Bol-Split and due to revenue increase recorded on the Split-Supetar, Valbiska-Merag, Prizna-Zigljen, and Zadar-Preko lines.

In comparison to last year, total expenditures increased by 6.4 percent to 376.7 million Kunas, mainly due to the increase of the average price of fuel consumed in the first six months this year.

From January to June 2017, the total loss of Jadrolinija was 13.7 million Kunas, which, as stated the company, is a better result for almost 11 million Kunas in comparison to the same period from last year.

Furthermore, at the end of June, the company’s receivables were 4.4 percent lower compared to last year, whilst the total liabilities decreased by 18,7 percent, mainly due to regular repayments to banks and other financial institutions.

Jadrolinija pointed out that this debt reduction opens up great potential for a new investment cycle; liquidity is satisfactory and liabilities were settled within deadlines, entirely from regular business.