State-controlled Marina Bar reported net profit of approximately €426,000 in the first six months of 2026, reversing a €312,000 loss recorded in the same period a year earlier, when an exceptional legal expense weighed on its financial results. The previous-year loss was largely associated with a payment of approximately €738,000 arising from a longstanding legal dispute connected to the failed privatisation of the marina in 2009.
Revenue and Financial Position
Marina Bar generated operating revenue of around €767,000 in the first half of 2026, while other income amounted to approximately €243,000. The company held about €3.2 million in cash and reported accumulated profit of approximately €4.19 million. Its balance sheet showed no long-term liabilities, while short-term obligations stood at around €161,000. The state of Montenegro owns approximately 54% of Marina Bar.
Profitability and Investment Capacity
The return to profit follows the absence of the exceptional legal payment that affected the company’s 2025 results. The year-on-year improvement therefore reflects the removal of that expense, while revenue growth remained limited. The company’s cash holdings, accumulated profit and low level of liabilities provide a financial basis for potential investment in infrastructure and services, should shareholders decide to allocate part of its reserves for those purposes.
The sustainability of earnings will increasingly depend on berth utilisation, revenue from services and the development of Marina Bar’s commercial offering. For the state as the majority shareholder, the improved financial position provides a basis for considering whether to reinvest earnings, distribute profits or undertake a broader restructuring of the asset.
