Announcement • Apr 24
Jadran d.d. to Report Q1, 2026 Results on Apr 28, 2026 Jadran d.d. announced that they will report Q1, 2026 results at 12:15 PM, Central European Standard Time on Apr 28, 2026 Reported Earnings • Apr 24
Full year 2025 earnings released: €0.20 loss per share (vs €0.21 loss in FY 2024) Full year 2025 results: €0.20 loss per share (improved from €0.21 loss in FY 2024). Revenue: €33.3m (up 6.7% from FY 2024). Net loss: €5.48m (loss narrowed 5.7% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Apr 16
Jadran d.d. to Report Fiscal Year 2025 Results on Apr 20, 2026 Jadran d.d. announced that they will report fiscal year 2025 results on Apr 20, 2026 Reported Earnings • Mar 02
Full year 2025 earnings released Full year 2025 results: Revenue: €33.3m (up 6.7% from FY 2024). Net loss: €5.48m (loss narrowed 5.7% from FY 2024). Announcement • Feb 23
Jadran d.d. to Report Q4, 2026 Results on Feb 25, 2026 Jadran d.d. announced that they will report Q4, 2026 results on Feb 25, 2026 Reported Earnings • Nov 01
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: €22.1m (up 8.0% from 3Q 2024). Net income: €7.42m (up 8.2% from 3Q 2024). Profit margin: 34% (in line with 3Q 2024). Announcement • Oct 27
Jadran d.d. to Report Q3, 2025 Results on Oct 29, 2025 Jadran d.d. announced that they will report Q3, 2025 results on Oct 29, 2025 Reported Earnings • Jul 31
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €7.66m (up 22% from 2Q 2024). Net loss: €2.15m (loss narrowed 33% from 2Q 2024). Announcement • Jul 25
Jadran d.d. to Report Q2, 2025 Results on Jul 29, 2025 Jadran d.d. announced that they will report Q2, 2025 results on Jul 29, 2025 Announcement • Apr 25
Jadran d.d. to Report Q1, 2025 Results on Apr 28, 2025 Jadran d.d. announced that they will report Q1, 2025 results on Apr 28, 2025 Announcement • Apr 08
Jadran d.d. to Report Fiscal Year 2024 Final Results on Apr 10, 2025 Jadran d.d. announced that they will report fiscal year 2024 final results on Apr 10, 2025 New Risk • Mar 09
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€709k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€709k free cash flow). Shares are highly illiquid. Minor Risk Market cap is less than US$100m (€51.5m market cap, or US$55.8m). Announcement • Feb 24
Jadran d.d. to Report Q4, 2024 Results on Feb 26, 2025 Jadran d.d. announced that they will report Q4, 2024 results on Feb 26, 2025 Announcement • Jan 24
Jadran d.d., Annual General Meeting, Mar 10, 2025 Jadran d.d., Annual General Meeting, Mar 10, 2025, at 11:00 Central European Standard Time. Location: at registered seat in crikvenica, bana Croatia Reported Earnings • Nov 02
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: €20.9m (up 2.7% from 3Q 2023). Net income: €6.86m (down 8.3% from 3Q 2023). Profit margin: 33% (down from 37% in 3Q 2023). The decrease in margin was driven by higher expenses. Announcement • Oct 28
Jadran d.d. to Report Q3, 2024 Results on Oct 30, 2024 Jadran d.d. announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Jul 28
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €6.65m (up 11% from 2Q 2023). Net loss: €3.18m (loss widened 40% from 2Q 2023). New Risk • Jun 05
New major risk - Revenue and earnings growth Earnings have declined by 20% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 20% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€38.0m market cap, or US$41.3m). New Risk • May 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 11% Last year net profit margin: 30% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shares are highly illiquid. Minor Risks Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (€42.0m market cap, or US$44.8m). Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: €0.20 (vs €0.01 loss in FY 2022) Full year 2023 results: EPS: €0.20 (up from €0.01 loss in FY 2022). Revenue: €40.1m (up 30% from FY 2022). Net income: €5.68m (up €5.97m from FY 2022). Profit margin: 14% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Nov 10
Jadran d.d. Appoints Irina Tomic as CEO, Effective December 1 Croatian hotel owner and operator Jadran said its supervisor board on Wednesday appointed Irina Tomic as president of its management board. Her mandate starts on December 1 and ends on November 30, 2027, the company said in a filing to the Zagreb bourse. Reported Earnings • Jul 29
Second quarter 2023 earnings released: €0.081 loss per share (vs €0.03 loss in 2Q 2022) Second quarter 2023 results: €0.081 loss per share (further deteriorated from €0.03 loss in 2Q 2022). Revenue: €5.97m (down 7.1% from 2Q 2022). Net loss: €2.28m (loss widened 175% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • May 08
First quarter 2023 earnings released First quarter 2023 results: Revenue: €10.5m (up €9.27m from 1Q 2022). Net income: €6.09m (up €9.40m from 1Q 2022). Profit margin: 58% (up from net loss in 1Q 2022). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €1.64, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 20x in the Hospitality industry in Croatia. Total returns to shareholders of 13% over the past three years. Reported Earnings • Mar 05
Full year 2022 earnings released Full year 2022 results: Revenue: Kn273.9m (up 69% from FY 2021). Net income: Kn24.7m (up Kn31.5m from FY 2021). Profit margin: 9.0% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Announcement • Feb 07
Jadran d.d. (ZGSE:JDRN) completed the acquisition of Adria coast turizam d.o.o. Jadran d.d. (ZGSE:JDRN) agreed to acquire Adria coast turizam d.o.o for €47.1 million on August 31, 2022. Jadran d.d. (ZGSE:JDRN) completed the acquisition of Adria coast turizam d.o.o on February 6, 2023. Reported Earnings • Oct 30
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: Kn160.2m (up 36% from 3Q 2021). Net income: Kn67.9m (up 42% from 3Q 2021). Profit margin: 42% (up from 40% in 3Q 2021). Reported Earnings • Aug 01
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: Kn51.0m (up 131% from 2Q 2021). Net loss: Kn6.24m (loss widened 20% from 2Q 2021). Reported Earnings • Mar 06
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: Kn155.9m (up 114% from FY 2020). Net loss: Kn4.93m (loss narrowed 96% from FY 2020). Revenue was in line with analyst estimates. Reported Earnings • Aug 02
Second quarter 2021 earnings released The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: Kn29.0m (up 213% from 2Q 2020). Net loss: Kn4.89m (loss narrowed 76% from 2Q 2020). Reported Earnings • May 04
First quarter 2021 earnings released The company reported a solid first quarter result with improved revenues and control over costs, although losses increased. First quarter 2021 results: Revenue: Kn5.98m (up 55% from 1Q 2020). Net loss: Kn21.2m (loss widened 33% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 28
Full year 2020 earnings released: Kn1.84 loss per share (vs Kn0.075 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: Kn83.6m (down 34% from FY 2019). Net loss: Kn51.4m (loss widened Kn49.3m from FY 2019). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 04
New 90-day high: Kn14.40 The company is up 6.0% from its price of Kn13.60 on 05 November 2020. The Croatian market is also up 6.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Hospitality industry, which is up 16% over the same period. Is New 90 Day High Low • Jan 08
New 90-day high: Kn14.10 The company is up 4.0% from its price of Kn13.60 on 08 October 2020. The Croatian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 14% over the same period. Is New 90 Day High Low • Nov 27
New 90-day low: Kn13.20 The company is down 3.0% from its price of Kn13.60 on 25 August 2020. The Croatian market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 10.0% over the same period.