In the first nine months of 2024, Croatian state-owned oil transportation company JANAF achieved nearly €100 million in total revenues. Revenue from core activities, including oil transport and storage of oil and oil derivatives, reached approximately €93 million, with around 70% generated from foreign customers. Gross profit during this period exceeded €45 million, while net profit surpassed €37 million.
The company invested nearly €12 million of its own funds, focusing on improvements in tanks, oil pipelines, storage systems, digital transformation, and safety measures. Stjepan Adanic, President of JANAF’s Board of Directors, emphasized that the company has maintained energy supply security for Croatia and neighboring countries, a trend that has strengthened under the current management.
JANAF’s financial stability is highlighted by a €200 million increase in company value since September 2020. The company continues to build strong relationships with partners, earning their trust through reliability and quality service. Last year, JANAF paid a dividend of €31.2 million to its shareholders, and its robust financial position enables ongoing investments in new capacities, including traditional oil transport and storage as well as renewable energy.
This year marks the beginning of JANAF’s investments in renewable energy. In May, through its affiliate JANAF OIE, the company invested in a solar power plant in Vodjinci, followed by the acquisition of the Bulinac solar power plant near Bjelovar in July. Additionally, JANAF has completed projects for integrated solar power plants at its terminals in Sisak, Zitnjak, and Omisalj, and is preparing to develop non-integrated solar power plants at its terminals in Slavonski Brod, Omisalj, and Zitnjak in Zagreb.
Board Member Vladislav Veselica noted that these initiatives align with JANAF’s goal of achieving self-sufficiency in electricity as part of its low-carbon transition strategy, while the company continues to explore new investment opportunities in wind, solar, and geothermal energy.
