The bulker owner saw its deficit soar to HRK 746m ($110m) from HRK 17m in 2013.

Its operating loss for 2014 was HRK 41.5m, compared to HRK 18.3m in the corresponding period.

Atlantska’s revenue rose from HRK 368m in 2013 to HRK 397m last year.

The full year result announcement comes a few days after Erste Group downgraded the company as the shipping outlook stayed “poor”.

Shares