mol janaf ina naftovod.jpg
Photograph: HINA/ MOL/ ds

The Adriatic oil pipeline operator JANAF ended 2015 with a net profit of HRK 203.4 million, which is twice as much as in 2014, the company reported on Tuesday.

As a comparison, in 2014 JANAF generated a net profit of HRK 100.3 million, shows the company's unaudited financial statement for 2015.

The company's gross profit amounted to HRK 255.1 million and was up by 115.9% compared with 2014.

JANAF's total revenue in 2015 was HRK 726.7 million, which was 48.4% higher than in 2014 and 37.4% more than planned.

JANAF's core business - transport and storage of crude oil and petroleum products - generated a revenue of HRK 657.4 million, a rise of 47.5% compared to 2014 and 28.3% more than planned. Revenue from sales abroad amounted to HRK 439.2 million or 59.6% more than in 2014 and 38.1% more than planned.

Total expenditure amounted to HRK 471.6 million, which is 26.9% more than compared to the year before and 17.2% more than planned. Operating costs accounted for 94.9% of total expenditure.

Investments underway as at 31 December 2015 amount to HRK 338.6 million, the company reported.

At the end of 2015 JANAF concluded new contracts for crude oil transport and storage of crude oil and petroleum products for 2016 worth close to HRK 500 million, which clearly indicates the continuation of growth in the company's business activities, JANAF reported.

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