Adriatic Croatia International Club za djelatnost marina d d : Business results report for the year ended 31 December 2021

Address: 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.

BUSINESS RESULTS REPORT

FOR THE YEAR

ENDED 31 DECEMBER 2021

(UNAUDITED)

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

SUMMARY

1. MANAGEMENT REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
2. QUARTERLY FINANCIAL STATEMENTS FOR 4TH QUARTER 2021 (UNAUDITED)
3. MANAGEMENT BOARD STATEMENT

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Business results report

MANAGEMENT REPORT FOR THE YEAR ENDED 31 DECEMBER 21

Key performance indicators

Description of the most important risks and uncertainties

Significant events in 2021

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 OF THE PRESIDENT OF THE MANAGEMENT BOARD

The results achieved in 2021 exceeded our expectations, especially if we take into account the uncertainties and unknowns that marked the year preceding it and that had accompanied us into 2021.

The modification and adaptation of business processes to new circumstances and the results of the work done to date have primarily been reflected in the preservation of financial stability and liquidity of ACI. We have preserved jobs and maintained fair relations with our business partners, all with an increase in sales revenue by HRK 36 million, and we believe that in 2022 we will return to pre-pandemic results. This leaves room for the development of strategic projects that were started in the past

and the development of new ones with the aim of improving business, primarily by expanding services other than the core business ones.

During the year, we invested HRK 44 million in the system. Among the most important projects is the completion of the long-planned reconstruction of the breakwater on Korčula; we also invested in the land and sea infrastructure of the marina in Vodice, and considerable investments were made in infrastructure in Marina Dubrovnik, with works being underway.

At this moment, further development of the Company is primarily linked to investing in new projects and activities, but also to solving the problem of the concession contract period, where some strategic investments are already not profitable due to the short period of return on investment. The above-mentioned issues, at the moment, represent the main limiting factor in making investments and putting into action other business ideas related to the system.

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Business results report

KEY PERFORMANCE INDICATORS

in thousands of HRK, unaudited	31 December 2021	31 December 2020
Net profit	13,335	198
Operating income	212,608	179,752
EBITDA	83,674	70,336
Net profit margin	6.5%	0.1%
EBITDA margin	39%	38%
Debt ratio	26%	27%
CAPEX*	43,974	47,512
Basic Earnings Per Share	120.07	1.78
Boats days	1,420,115	1,382,244
Number of employees as at 31 December	334	340

• Right-of-useassets are not included - lease and advance payments for tangible assets
  Operating income and EBITDA

250.000

	212,608
200.000	179,752
150.000
100.000	83,674

70,336

50.000

0

Operating income	EBITDA
31 December 2021	31 December 2020

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