In 2018, JANAF recorded an increase in sales of 3%, a decrease in EBITDA of 10% and an increase in net income of 4%.
We are bringing you some key takes from JANAF’s 2018 preliminary report. According to it, sales increased by 3% amounting to HRK 719.8m. However, total operating revenue remained flat, as other operating revenues decreased by HRK 22m. Note that the foreign market made up HRK 484.4m, which represents an increase of 2.1%. Meanwhile, revenues in the domestic market amount to HRK 229.4m, which represents an increase of 3.4%. Revenues related to oil transport amounted to HRK 466.4m, which represents an increase of 8.2%.
When observing JANAF’s operating expenses, they increased by 3.7%, which amounted to HRK 14.4m. The increase could be mostly attributed to higher value adjustments by HRK 32.7m.
In 2018, EBITDA amounted HRK 481.4m, which represents a decrease of 10%. The decrease could be attributed to lower depreciation and amortization by HRK 34.5m and the above-mentioned increase in value adjustments. Meanwhile, EBIT amounted to HRK 386.1m, which represents an increase of 4%.
Going further down the P&L, JANAF turned a net financial loss of HRK -9.4m to a gain of HRK 24.3m, which could be attributed to lower financial expenses by HRK 29.2m.