Added to YB: 2026-07-15
Pitch date: 2026-07-12
ACI.ZA [neutral]
Adriatic Croatia International Club, za djelatnost marina d.d.
Author Info
No bio for this author
Company Info
Adriatic Croatia International Club, za djelatnost marina d.d. engages in the nautical tourism business in Croatia and internationally.
Market Cap
EUR 87.7M
Pitch Price
N/A
Price Target
N/A
Dividend
0.61%
EV/EBITDA
4.91
P/E
120.19
EV/Sales
1.29
Sector
Hotels, Restaurants and Leisure
Category
value
The Briefcase Problem: ACI d.d. (ZSE: ACI)
ACI.ZA (pass): Largest Med marina chain (22 marinas, 6k berths) at 5x EBITDA, ~EUR8k/berth vs D-Marin's recent EUR1bn/15x/70k-berth sale. EUR45m cash vs EUR89m cap. But 79% state-owned, run for employment (23% vs peer 41% margins), 0.6% yield, all concessions expire 2030. No catalyst; briefcase you can't open.
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