Croatian marina operator ACI Marinas invested HRK 24 million (US$3.4 million) in the first quarter of this year to upgrade marinas in Zut, Piskera, Trogir, Milna, and Dubrovnik, amid increased confidence about the season’s financial prognosis.

“The financial results achieved so far suggest that our business is steady, but also hint to the dynamics that are typical in the tourism sector, including the nautical sector,” the operator’s management board stated in its interim financial report for the period January-March 2022.

“As a result, season preparations are in full swing. We strive to finish the work that we have begun within the stipulated timeframes,” stated the board.

According to the report, ACI Marinas recorded total sales of HRK 35m (US$4.9m) for the first quarter of 2022, a 5.7 percent raise over the same period last year. EBITDA was HRK 10.7 million, up from 9.4 million in Q1 2021, while the net loss for the period was HRK 5.66 million, which was 1.75 million less than at the same time last year. ACI said it had invested HRK 44 million in strategic projects last year.

The enterprise, based in Opatija in northwest Croatia, maintains 22 marinas. ACI Marinas is majority-owned by the Croatian Treasury, which owns 78.6 percent of the company.