ADRIS Grupa posted end-September growth of revenue and profit

15 November 2022 — Andrei Victor
In the first nine months of 2022, Croatian conglomerate ADRIS Grupa with business in tourism, food production and insurance (Croatia Osiguranje) - posted total revenue worth HRK 5.2 billion (~EUR 0.7 billion), up by 15% compared to the same reporting period last year.

Revenue from the sales of goods and services amounted to HRK 4.93 billion (~EUR 0.65 billion) and was 18% higher y-o-y, while the net profit amounted to HRK 705 million (EUR 93.7 million), up by 17% compared to the same reporting period last year and by 6% compared to 2019.

The Group's tourism business recorded HRK 1.75 billion (EUR 0.2 billion) in revenue from sales of goods and services, up by 42% compared to the first nine months of last year and by 12% compared to the record year of 2019. EBITDA amounted to HRK 700 million (EUR 93 million), up by 16% compared to last year and by 1% compared to the first nine months of 2019, while the net profit of the tourism business stood at HRK 463 million (EUR 61.5 million), which is 29% higher compared to the same reporting period last year and represents 96% of the result achieved in 2019.

In insurance business, Croatia osiguranje reported consolidated GWP worth HRK 2.97 billion (~EUR 395.3 million) and was up by 9% y-o-y. The combined ratio from CO Group's regular business activities was 93.9, 1 percentage point higher compared to the first nine months of last year, primarily due to investments in market activities. In the first three quarters of 2022, Croatia osiguranje recorded a consolidated net profit of HRK 322 million (~EUR 42.7 million), which is a growth of 1%. (more details here)

In the first nine months, Cromaris achieved sales of 10,886 tonnes of whole fish equivalent, up by 18% compared to the same reporting period last year. Sales revenues amounted to HRK 579 million (EUR 77 million) and were up by 28%. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to HRK 65 million (EUR 8.6 million) and were up by 25%. In the first nine months of 2022, Cromaris recorded a net profit in the amount of HRK 16 million (~EUR 2 million).

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