Published 07. February 2017.
In order to improve the operating efficiency and rationalize operations, the Management Board of VALAMAR RIVIERA d.d. with registered office in Poreč, 1 Stancija Kaligari (hereinafter: the Company) has initiated the merger of the company PUNTIŽELA d.o.o. with registered office in Pula, Puntižela 155 (hereinafter: Puntižela), where the Company holds 42,673 business stakes thus representing 100% of Puntižela equity. The merging process will take place in the first half of this year, pursuant to the provisions of the Companies Act.
Additionally, Valamar Riviera has set its revenue target for the year 2017 by taking into consideration (i) the initiated Puntižela merger, (ii) previously announced closing of Imperial d.d. Rab transaction (hereinafter: Imperial), (iii) previously announced investments for the year 2017 (amounting to HRK 873 million), and (iv) initial booking pace from source markets. In its business plan for the year 2017, Valamar Riviera is targeting total consolidated net operating revenue (Imperial excluded) of HRK 1.57 billion (thus representing a targeted 7% increase compared to 2016) or HRK 1.69 billion including Imperial (based on its interim business plan which will be reviewed in April).
Considering the seasonality of operations and pursuant to the company practices so far, the Company will announce the expected EBITDA and operating revenue range for 2017 in October of this year, including deviations from the set targets.
Full text of this notice is available from attached PDF document.
