Despite being one marina less than 2016 due to the reconstruction at Rovinj marina, ACI Marinas (Adriatic Croatia International Clubs) is set for another profitable year. This assertion is based on ACI’s earnings in the first nine months of 2017 which amounted to HRK165.1m (about $25.8m), a figure in line with the 2016 performance over the corresponding period.
However, the 2017 figure does not include the HRK11m revenue which was generated by Rovinj marina last year. This facility is currently undergoing a near $2m reconstruction.
In the first three quarters of 2017, ACI incurred expenditure of HRK131.7($20.6m) which was similar to the 2016 outcome for the same period. However, the redevelopment of Rovinj and the building of the travel lift facility at ACI’s Dubrovnik marina has a significant impact of the 2017 results.
Of the total revenues annual leases accounted for HRK70m, down 3% while daily leases increased 5.5% to HRK53.5m. Monthly leases accounted for HRK8.6m, up 16% on the 2016 figure. Other rental and non-core activities achieved income of HRK8.6m, a rise of 11% and other services generated HRK10m, up 5% on the previous year.
Apart from the Rovinj and Dubrovnik marina investments ACI also worked on other projects at its marinas in Vodice, Umag and Milna. The reconstruction of Rovinj is set to be completed in 2018 and it will have capacity of 196 berths to berth yachts of an average length of 17m (56ft) up from the current 11m (36ft). The reconstructed marina will be able to accommodate yachts of up to 35m(115ft) on annual berths while a dozen berths will be able to accommodate larger vessels in transit.
Last month ACI announced that it plans to build and operate a new marina at Novalja. ACI and the municipal government of Novalja had agreed on a project which will lead to a concession award involving construction and operation.
ACI is 78% owned by the Croatian government and the second largest shareholder is the Turkish Dogus group with 10.78%.