The state-owned network of marinas Adriatic Croatia International (ACI) said they invested "more than 24 million kuna" (€3.2 million) in "strategic and infrastructure projects" in its marinas at Dubrovnik, Trogir, Rab, Milna, Zut and Piskera in Q1 2022, the company said in a press release carried by state agency Hina on Friday.

The company said its focus Q1 2022 was on “expanding the marina portfolio and developing further services,” without clarifying.

In Q1 2022 ACI generated 35 million kuna (€4.6 million) in operating revenue, which was 2 million kuna (€265,000) up from Q1 2021. Earnings before taxes were 10.7 million kuna (€1.4 million), up from 9.4 million kuna (€1.2 million) in Q1 2021. The net loss for the period was 5.66 million kuna (€750,000). In Q1 2020 the loss was 7.41 million kuna (€1 million).

ACI said it had invested 44 million kuna (€5.8 million) in “strategic projects” last year. Hina did not clarify what these might refer to.

(€1 = 7.54 kuna)