The Zagreb-listed company said the net deficit to 30 June was HRK 30.4m ($5.36m), compared to a profit of HRK 1.1m in the same period of 2012.
The shipping division posted a loss of HRK 29.1m.
Its 17 vessels brought in revenue of HRK 220.3m, down 2% year-on-year.
Analyst InterCapital said the result was in line with expectations.
