In 2018, ACI recorded an increase in sales of 11% YoY, increase in EBITDA of 19% and an increase in net income of 53%.
As Adriatic Croatia International Club published their 2018 preliminary results, we are bringing you some key takes from it. According to the report, the company recorded an increase in operating revenues by 11% amounting to HRK 210.9m. This increase could mainly be attributed to a change in selling policy of the company. ACI states that they updated their pricing strategy based on the supply and demand and the attractiveness of the destination. Besides that, an increase in revenues could be attributed to the sale of long-term assets and termination of court cases.
As a result, all marinas recorded an increase in revenue (except Rovinj, Palmižana and Umag).
When observing operating expenses, they increased by 6%, amounting to 43.7m. This could be mainly attributed to an increase in value adjustments by HRK 3.3m (+224%). Further, EBITDA increased by 19%, amounting to 91.6m.
Going further down the P&L, ACI went from a net financial gain of HRK 0.16m to a loss of HRK -0.3m.
Meanwhile net income increased by HRK 10.7m, amounting to HRK 31m (+53%).