Through constant investments in the growth of the company, the offer of services and its own employees, Jadran d.d. has been attracting guests to the Croatian coast since 1964. Hotel group Jadran d.d. with its headquarters in Crikvenica, is one of the leaders in hospitality business on the Adriatic. In 1993, Jadran became a joint-stock company, while upon listing on the Zagreb Stock Exchange, today's two largest individual investors entered the ownership structure: PBZ Croatia osiguranje mandatory pension fund - category B and Erste Plavi mandatory pension fund category B.
In addition to the parent company, the Group includes Stolist d.o.o. and Adria coast turizam d.o.o. The latter company was purchased through a transaction finalized this year, with the simultaneous sale of Club Adriatic from Baško Polje. The group operates on the Crikvenica and Makarska riviera and on the islands of Krk and Brač. In addition to owned facilities, Jadran also manages several leased facilities. It currently has over 1,700 accommodation units in hotels and resorts and over 700 lots in camps. The consolidated business income of Jadran in 2022 was EUR 32 million, and the total number of employees of the Group in the summer months was almost 700.
The Jadran Group continuously invests in the development of personnel, improvement of accommodation capacities, creation of new content and raising the quality level with the aim of providing superior service to its guests and extending the season. Company’s core values are togetherness - because only the satisfaction of all parties involved gives long-term sustainable results, professionalism - because we are professional, responsible and ethical towards employees and our partners, courage - because we strive for changes and innovations that will contribute to better results, and ambition - because we are ready to challenges and strive for excellence in everything we do.
Reasons and objectives for stock exchange listing
At the beginning of January 2018, the Prospectus for listing was drawn up, and the Company's shares were listed on the Official Market on January 8, 2018. Trading of shares began on January 10, 2018, within sector I - Accommodation and food service activities. At the end of October 2023, Jadran d.d., with a market capitalization of around 45.3 million euros, is in twelfth place within the mentioned sector, which currently has twenty companies.
By listing shares on the Official Market, the company Jadran d.d. it accepted the obligations prescribed by the Capital Market Act and the Stock Exchange Rules, but also achieved significant benefits. The Company is dedicated to fulfilment of the best principles of Corporate Governance as an integral part of the way decisions are made and risks and opportunities are assessed. The aforementioned include the promotion of effective management and responsibility in the company, especially related to issues such as: the strategy and purpose of the company, relations with other interest parties and the expected behavior of the company's management and employees.
Furthermore, Jadran d.d. strives for transparency in business while meeting strict regulatory requirements. Th include detailed, standardized, and regular reporting (annually audited by independent auditors) on the financial position, financial performance, cash flows and significant changes that may affect further operations and are important to potential investors. The above-mentioned level of transparency about the overall business picture and regular communication with the investment public contributes to the possibility of market valuation of assets by existing, but also a wider circle of potential investors (including small shareholders) and possible diversification of shareholders.
Thus, the Company is provided with new financing possibilities, i.e., collecting fresh capital and access to different investors, such as financial institutions and other institutional investors (both domestic and foreign). In this way, further growth and development of the company can be financed more favorably; including significant investments in accommodation facilities or business expansion, improve the range of services to increase competitiveness and create additional value for shareholders. Business transparency facilitates access to debt financing and potentially brings lower borrowing costs with credit institutions.
Finally, listing on the Regulated Market brings the responsibility that Jadran d.d. has not only towards its shareholders but also towards other interest parties, the community in which it operates and the entire economy. Positive impact on the image is achieved with increased media attention and communication through various channels, including the Stock Exchange's website. In addition, listing also increases recognition among current and potential guests, employees, other partners, and the general investment public, and strengthens business reputation.
Jadran d.d. diligently implements a comprehensive sustainability strategy based on a set of key initiatives aimed at achieving high standards in energy efficiency, waste management, support for local communities, digital transformation, and combating discrimination.
Regarding energy efficiency, we actively work on reducing energy consumption and greenhouse gas emissions. This initiative includes the implementation of advanced technologies to optimize our energy resources. Furthermore, we promote awareness of responsible energy use among our employees and the wider community, fostering a culture of responsible energy behaviour. We focus on waste reduction and sustainable management, utilizing composters for organic waste recycling and sorting waste and other materials for recycling. Our goal is to significantly reduce the amount of waste ending up in landfills, positively impacting the environment and resources and we promote procurement from local producers, which reduces greenhouse gas emissions. Digital transformation and paperless operations are pivotal elements of our strategy. We actively modernize our operations to reduce paper consumption, accelerate processes, and enhance communication efficiency.
The fight against discrimination and the promotion of inclusivity constitute fundamental values of our corporate culture. We actively strive to create a workplace that supports diversity and equality, ensuring every employee has equal opportunities for growth and development. Through regular training and education, we foster awareness of the importance of diversity in the workplace and provide business education to empower our employees.
Moreover, we recognize and reward the outstanding contributions of our workforce to stimulate excellence and motivation. We prioritize employee well-being by providing additional health insurance that exceeds typical care standards. Our equal pay policy ensures transparency and fairness in employee compensation, regardless of personal characteristics. When it comes to ethical business practices, we consistently enforce a zero-tolerance policy against corruption and bribery, ensuring an environment of integrity in our operations.
All the mentioned initiatives are integral parts of our corporate culture, reflecting our commitment to responsible, sustainable, ethical, inclusive, and digitally transformed business practices.