Adriatic Croatia International Club d d : Interim financial report for the three month period ended 31 march 2021 (unaudited)

Adress: Rudolfa Strohala 2

Ordinary shares: ISIN HRACI0RA0000

Economic activity: R 9329

Market: Regular market

LEI:7478000090X86WBQ6C10

Home member state: Croatia

ADRIATIC CROATIA INTERNATIONAL CLUB, za djelatnost marina d.d.

INTERIM FINANCIAL REPORT

FOR PERIOD JANUARY - MARCH 2021

(UNAUDITED)

SUMMARY:

1. MANAGEMENT REPORT FOR THE THREE MONTH PERIOD ENDED 31 MARCH 2021
2. CONDENSED FINANCIAL STATMENTS FOR THE PERIOD ENDED 31 MARCH 2021 (UNAUDITED)
3. MANAGENEMT BOARD STATEMENT

Interim financial report

MANAGEMENT REPORT FOR THE THREE MONTH PERIOD ENDED 31 MARCH 2021

• Key performance indicators
• Description of the most important risks and uncertainties
• Significant events in the reporting period
• Sales revenue trends
• Profitability trends
• Financial performance indicators
• Market capitalization
• Ownership structure
• Future development of the Company

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ADRIATIC CROATIA INTERNATIONAL CLUB, za djelatnost marina d.d.

COMMENT FROM THE PRESIDENT OF THE MANAGEMENT BOARD

Taking into account the seasonal character and the dynamics of the Company's business activities, the first quarter is usually marked by preparatory activities for the season, activities related to the realisation of planned investments, and by defining commercial content and benefits for our Clients. This year, for all its peculiarities, is no different. The reconstruction of the breakwater in Marina Korčula is in full swing, works in the maritime facilities and partly in the shoreside facilities in Marina Vodice are almost completed, the improvement of the anchoring systems in our marinas is going as planned, and we believe that the complete reconstruction of the anchoring systems in Marina Trogir will be finished by the end of the third quarter of 2020.

Even in this challenging period, we have recognised the opportunity for a new significant investment in Rijeka; operating activities related to the extension of concession periods are ongoing, and, as a Company, we keep being active in finding new investment opportunities.

Of course, we are intensively monitoring the situation on the ground, as well as the measures that are adopted, both at the country level and in the countries in our region that represent our target markets. We are participants in the Safe Stay in Croatia project and in the project of priority vaccination of tourist workers, and, consequently, as last year's experience taught us, we still look at the coming season with optimism, says the President of the Management Board, Kristijan Pavić.

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		Interim financial report
KEY PERFORMANCE INDICATORS
In HRK '000, unaudited	31 March 2021	31 March 2020
Net loss	(7,413)	(6,032)
Operating income	33,063	35,136
EBITDA	9,477	11,527
Net profit margin	-23%	-16%
EBITDA margin	28%	31%
Debt ratio	25%	26%
CAPEX*	7,528	15,721
Boats days	324,277	332,410
Number of employees as at 31 March	339	335

* Right-of-use assets - lease and advance payments for tangible assets are not included

Operating income and EBITDA

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