For 2019, the company expects an increase in revenues of 11% YoY and an increase in EBITDA of roughly 10% YoY.

Valamar Rivera published an announcement on the Zagreb Stock Exchange stating that according to preliminary unaudited consolidated business results for 2019, Valamar Group’s 2019 expected operating revenues are ranging between HRK 2.205bn and HRK 2.215bn (+11% YoY). Such result is higher than the previously announced expected range between HRK 2.175bn and HRK 2.2bn.

Besides that, the company updated the expected EBITDA, ranging between HRK 765m and HRK 770m (roughly +10% YoY) which is above the previously stated range between HRK 750m and HRK 760m.

The growth of expected business results versus previously announced range is primarily due to higher one-off revenues from the sale of non-core long-term material Company’s assets.

Note that Valamar is expected to publish their FY 2019 Annual report on 28 February.

To read more about Valamar Riviera, click here.