Despite pessimistic season announcements, ACI continues to operate stably in the first nine months of 2024

The largest marina chain in the Mediterranean, ACI dd In the first nine months of 2024, it recorded growth in business results with an emphasis on sales revenue, especially from connection services.

According to the nine-month report, ACI achieved sales revenue growth for 2 million euros or 7% compared to the comparable period of the previous year. The most significant growth in sales revenue was recorded in four system units, which accounted for 50% of the total increase in sales revenue.

A total of 2,1 million euros was invested in the system, which currently has 22 marinas across the Adriatic coast, during the observed period, while a net profit of 3,6 million euros was achieved.

"The 2024 nautical season was challenging, but it also recorded positive results. Despite operating with the same capacities, ACI achieved an increase in operating income of EUR 1,9 million in the first nine months, which is an increase of 6% compared to the same period last year. This is evidence of a good assessment of the competition, the market situation and a stable business policy. The largest growth was recorded in annual berth services, which clearly indicates the high satisfaction of our long-standing clients, with the key ACI marinas Split and Dubrovnik contributing 32% to the total growth. As the season draws to a close, we continue to analyze the achieved results in order to effectively plan future business steps. The focus of the Management Board in the upcoming period certainly remains on the extension of concession contracts, as a basic prerequisite for further investments", he pointed out Kristijan Pavic, President of the Board of Directors of ACI dd

In the first nine months of the current year, the national nautical chain achieved 30,9 million euros in operating income, which compared to the comparable period last year represents growth of 1,9 million euros, primarily as a result of the growth in revenue from the annual mooring service. In the reporting period, sales revenue increased by 2 million euros compared to the comparable period, which represents a growth of 7%, with the largest growth recorded from the annual mooring service, amounting to 1,5 million euros.

Accordingly, the most significant increase in sales revenue was recorded in ACI marinas Split, Dubrovnik, Korčula and Rovinj, which account for 50% of the total increase in sales revenue. 

The net profit achieved in the reporting period amounted to EUR 3,6 million, and the operating result was EUR 0,6 million lower compared to the comparable period. Given the dynamics of ACI's operations, no significant changes in operating results were recorded in the first nine months compared to the usual dynamics of achieving results, but an increase in revenue was visible in the first six months compared to the last quarter, according to ACI.

Furthermore, ACI points out that the Company's operating expenses increased by 2,9 million euros or 12% and are primarily a consequence of the increase in salary costs in accordance with the Collective Agreement, which permanently links salaries to the Regulation on the Minimum Wage, and whose changes influenced the reported increase in costs. This is the cost of investing in its own staff, or increasing the material rights of the company's employees, as key stakeholders in the further operations of the national nautical chain.

In the reporting period, a total of 2,1 million euros was invested in the system, primarily in the rehabilitation of anchor systems and piers in individual marinas. However, both in the last quarter and throughout the year, as well as in the coming period, investments remain focused exclusively on necessary investments to maintain the quality of service of the national nautical chain.

"The limiting factor for the strategic development of the business continues to be primarily the issue of extending the concession agreement, to which the Company's management is currently paying significant attention, since all ACI concessions, except for the "Veljko Barbieri" marina in Slano and the Žut anchorage, expire in 2030. Namely, the concession agreement for the "Veljko Barbieri" marina expires in 2027, therefore, in the further continuation of the company's business, the focus is precisely on resolving the issue of extending the concessions." concludes the ACI.

Cover photo: ACI marina Split / PHOTO: Davor Zunić, Petar Fabijan