Luxury marina for sale in the area of Kvarner with cca. 200 places, for sale
Exceptional offer - unique profit-generating business in Croatia, fully functional 365 days a year! Best format for investing in Croatia!
• cca. 200 places for vessels of up to 18 meters in length for luxury boats
• Berths for visiting vessels with a length of up to 40 meters
• 10 dry berths • Boat lift 40-ton capacity (Hydro lift)
• Authorized engine service agent
• Electric and electronic yacht maintenance and repair
• 24-hour security and berth assistance (seaman service)
• Video surveillance 0-24> • Proactive Boat Care System
• Active surveillance and boat safety concern
• Weekly report to the boat owners
• Laundry service
• Fully equipped sanitary facilities for the use of our clients, additional facilities for family and people with disability problems.
• Parking facilities with video surveillance
• WI-FI Internet is provided across the Marina
• Gas station is located 50 meters from the Marina
• Relax zone and pool with sundeck
• Restaurant • Caffe bar
• Conference hall
• 3 apartments of 5***** star category
New dry berth are under construction.
Maritime concession details:
Provider: Ministry of the Sea, Transport and Infrastructure • Area under concession: 39.054 m2 • Start date: 09.11.2010. • Maturity date: 09.11.2042. • Fixed part yearly: 78.711 EUR • Variable part: 13%
Analysis
1. Revenue Development
The company shows very strong top-line growth.
Revenue increased:
from 684k in 2022
to 914k in 2023
to 1.89M in 2024
This represents:
+34% growth in 2023
+107% growth in 2024
Such acceleration typically indicates:
asset activation
operational ramp-up
improved berth occupancy / pricing
or monetisation of previously developed infrastructure
2. Profitability Turnaround
The company was loss-making for two consecutive years:
Loss of approximately 495k in 2022
Loss of approximately 502k in 2023
In 2024 it generated:
Profit of approximately 488k
This represents a very significant turnaround and suggests that the business may have reached operational break-even scale.
Profit margin in 2024 is approximately 26%, which is strong for a marina or infrastructure-type asset.
3. Balance Sheet Structure
Total assets remain very stable around 13.3–13.6M across the period.
This indicates a capital-intensive business with fixed infrastructure already in place.
Equity declined in 2023 due to accumulated losses but recovered in 2024 following the return to profitability.
4. Leverage and Debt Risk
The company carries very high long-term liabilities:
Around 9.6M–10.1M across the period
Debt represents roughly:
74–75% of total assets
This is a highly leveraged structure and typical for:
marina developments
tourism infrastructure projects
concession-based investments
While leverage is high, the improvement in profitability in 2024 is a positive signal for debt servicing capacity.
5. Liquidity Position
Short-term liabilities declined materially from:
1.5M in 2022
to 0.93M in 2024
This suggests:
improving liquidity management
possible refinancing
or stronger operating cash flow
Trade receivables are very low relative to revenue, which indicates efficient collections or a predominantly advance-payment business model.
6. Workforce Development
The number of employees remained stable at 13 in 2022 and 2023 and increased to 16 in 2024.
This may reflect:
operational expansion
increased service offering
higher occupancy or utilisation
However, revenue growth significantly outpaced staff growth, indicating improving productivity.
7. Salary Trend
Average gross salary increased gradually over the period.
Net salary appears reported only in 2024, likely due to a reporting methodology change.
Overall Assessment
This company appears to be:
a capital-intensive infrastructure asset with stable asset base
highly leveraged but showing improving operational performance
transitioning from development / ramp-up phase into operating profitability
The key investment question is whether the strong revenue growth and profitability achieved in 2024 are sustainable and sufficient to comfortably service long-term debt obligations.
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