Adris Group to invest HRK 4 bln in 2016-2018 period

The Adris tourism and insurance group will invest nearly HRK 4 billion by 2018 into tourism, healthy food and the regionalisation of its insurance activities, which is an average of HRK 1 billion each year, the group's CEO, Ante Vlahovic, said at a meeting of the Supervisory Board on Monday.

The Supervisory Board adopted the Adris Group's 2016 business plan and business projections until 2018, Adris has reported.

Elaborating the business plan, Vlahovic underscored that the plans are ambitious yet realistic as demand is growing in all facets of Adris' business, adding that the group's investment policy is founded on recognisable trends - concentrating on high and premium segments in tourism, the premium segment of high-quality white fish and health and life insurance as a future source of growth in its insurance activities in Croatia Osiguranje.

Vlahovic recalled that the company's strategic transformation had been finalised and Adris' future business is founded on three long-term sustainable businesses. He also announced that the company would invest almost HRK 4 billion in tourism, healthy food and the regionalisation of its insurance activities by 2018. "This investment is a strong support for realising our business plans," Vlahovic said.

Investments until now in Maistra's tourism products of HRK 2.5 billion has placed Maistra's hotels at the top of Croatia's premium offer at prices that are acceptable to guests, Adris said. Investments of more than HRK 1.6 billion until 2018 will upgrade the offer to 4 and 5 stars, it added.

With investments of HRK 640 million, the group's fish company Cromaris has achieved growth in capacities as well as vertical integration. In the past six years, sales have increased six times at least with a growth in the sales price and a reduced cost of production.

The objective in the following period is to focus on two key markets - Croatia and Italy - and it is expected that Cromaris will continue to export more than 75% of its products. With planned investments of HRK 370 million, Cromaris aims to increase production to more than 10,000 tonnes of fish per annum by 2018.

As far as Croatia Osiguranje (CO) is concerned, there is great potential for growth on the Croatian insurance market, particularly for life and health insurance.

Following financial restructuring in CO and the injection of fresh capital of HRK 840 million, the first phase of operational reconstruction has been completed with the aim of strengthening the sales structure and centralising business operations.

This has led to a stabilisation of the market share on the key Croatian market in 2015 following several years of a negative trend. Adris intends to invest almost HRK 2 billion into its insurance activities in the 2016-2018 period.

Last update: Mon, 21/12/2015 - 23:43
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