How Does Adris grupa d.d. Pref. Company Work?

Through its subsidiary Maistra, Adris grupa manages a comprehensive portfolio of hotels, resorts, and campsites, primarily along Croatia's Adriatic coast. The company invests significantly in upgrading facilities, such as campsites in Istria and the Marjan hotel in Split, to elevate the luxury tourism experience.

The aquaculture division, Cromaris, specializes in breeding, processing, and selling high-quality fish products. In 2024, Cromaris achieved EUR 108 million in sales revenues, with a substantial 86% of its sales volume and 85% of revenue generated from foreign markets, underscoring its strong export orientation.

Adris grupa's insurance sector, operated by Croatia osiguranje, offers a wide range of insurance products and services across the region. The digital platform LAQO experienced a 29% premium growth in 2024, reflecting a commitment to digital innovation.

The company continues to invest in private healthcare, allocating over EUR 20 million in the last four years. Acquisitions of polyclinics in 2024 further solidified its market presence in this sector.

A significant milestone was the 2014 acquisition of Croatia osiguranje, establishing Adris as a regional insurance leader. More recently, Adris launched a EUR 600 million investment cycle in 2024, with EUR 201 million deployed that year. These investments target tourism upgrades and green energy projects, showcasing a forward-looking strategy.

In 2024, Adris's tourism division faced increased concession fees and labor costs. Despite these challenges, the Group achieved an 11% rise in consolidated revenues and an 8% increase in EBITDA, highlighting its operational resilience and effective management.

Adris grupa's competitive edge stems from its diversified portfolio across tourism, insurance, and aquaculture. Strong brand recognition, particularly with Maistra in tourism and Croatia osiguranje, fosters customer loyalty and market presence.

The company leverages economies of scale and invests in digitalization, exemplified by Croatia osiguranje's LAQO brand. With a consolidated debt of 1.3 times EBITDA in 2024, Adris maintains low indebtedness, supporting its ongoing investment potential and competitive standing.

In the first half of 2024, Croatia osiguranje maintained the largest market share in Croatia's insurance sector at 25.2%. Adris's tourism segment is investing in luxury properties to capitalize on Croatia's growing tourism market, which saw 21.3 million visitors in 2024. Cromaris exports 86% of its aquaculture sales internationally.

Adris faces risks from regulatory changes, such as increased concession fees impacting its tourism division by over EUR 3 million annually as of February 2024. Inflationary pressures on labor costs and the need to adapt to evolving consumer preferences and technological disruptions are also significant considerations.

The company is undertaking a three-year investment cycle exceeding EUR 600 million, focusing on luxury tourism, green energy, and its healthcare division. The commissioning of six new power plants in early 2025 highlights its commitment to diversification and sustainability.

Adris grupa aims to sustain and expand profitability by continuing its investment cycle, emphasizing high-value segments, improving operational efficiency, and leveraging digital transformation. This strategy is designed to enhance competitiveness and adapt to market dynamics, building on its Brief History of Adris grupa d.d. Pref.