Adris Grupa (ADRS) Q3 2024 earnings summary

Executive summary

• Adris Grupa reported EUR 842 million in total consolidated revenues for 1-9 2024, up 9% year-over-year, with net profit rising 14% to EUR 119 million and EBITDA up 15% to EUR 184 million.

• The group operates in tourism, healthy food, and insurance, with each segment showing resilience despite inflation, labor cost pressures, and climate-related challenges.

• Major investments continued in tourism and healthcare, and the group expanded its renewable energy portfolio.

Financial highlights

• Revenue from sale of goods and services reached EUR 794 million, up 9% year-over-year.

• Consolidated EBITDA was EUR 184 million (+15% year-over-year); net profit was EUR 119 million (+14%).

• Basic EPS for the period was EUR 6.30, up from EUR 5.67 in the prior year.

• Cash flow from operating activities was EUR 121.9 million, with EUR 40.7 million paid in dividends.

Outlook and guidance

• Booking trends in tourism indicate a strong post-season, with continued investment in facility upgrades and digitalization.

• Inflation and labor costs remain key challenges, but Croatia's stable EU fund inflows and public debt reduction support investment.

• Renewable energy projects are on schedule, with solar plants expected online by late 2024 and a wind farm by early 2025.