Adris Grupa (ADRS) Q2 2024 earnings summary

Executive summary

• Adris Grupa operates in tourism, healthy food, and insurance, with a focus on investment, management, and business transformation for cost efficiency and excellence.

• Total revenues in 1H 2024 reached EUR 469 million, up 11% year-over-year; net profit was EUR 29 million, a 5% increase.

• The group is actively investing in digitalization, green transition, and expanding its health and insurance offerings.

Financial highlights

• Revenue from sales of goods and services was EUR 435 million, up 11% year-over-year; EBITDA reached EUR 73 million (+10%).

• Net profit for 1H 2024 was EUR 28.9 million, up from EUR 27.5 million in 1H 2023.

• Basic/diluted EPS for 1H 2024 was EUR 1.20 (cumulative), EUR 1.84 (quarter).

• Cash flow from operating activities was EUR 51.8 million, up from EUR 38.4 million in 1H 2023.

• Total assets as of 30 June 2024 were EUR 2.99 billion; equity stood at EUR 1.55 billion.

Outlook and guidance

• Booking in tourism is better than last year, indicating strong demand for the high and post-season.

• Investments in tourism for 2024 are expected to reach EUR 100 million, focusing on campsites and hotel renovations.

• The group continues to prioritize digitalization, green energy, and expansion in health services.