Makedoniaturist posts €8.15 million net profit in first nine months of 2026

Makedoniaturist AD Skopje reported a net profit of €8.15 million in the first nine months of 2026, an increase of 147.87 percent compared with the same period a year earlier, the company's financial statements show. The results reflect growth in hotel operations and a substantial rise in other operating income linked to sales of long-unused properties.

Total revenues reached €15.31 million, up 83 percent year-on-year. Profit before tax stood at €8.95 million, while net profit amounted to €8.15 million.

Revenue from the company’s core activities — largely hotel and restaurant services — rose from €5.15 million to €6.57 million, a gain of 27.7 percent. Makedoniaturist attributes the improvement to a higher number of overnight stays and stronger food and beverage receipts.

The most pronounced increase was in other operating income, which jumped to €7.19 million from €1.48 million in the same period of 2025 — an uplift of about €5.71 million.

In a statement submitted to the Macedonian Stock Exchange the company said: "In addition to new investments, during the reporting period the company carried out the sale of non-functional properties that had been out of use for many years."

Among the assets sold were the two well-known Skopje hotels Bristol and Jadran. The company also planned sales of the Pivnica restaurant on Macedonia Square, a three-storey building opposite the former ZOIL, apartments on Maksim Gorki Street and other business premises in central Skopje. The firm did not break down how much each transaction contributed to the profit, but the asset disposals likely played a significant role.

Investments and land purchase

While selling non-operational properties, Makedoniaturist continued heavy investments: by the end of September total investments amounted to approximately €20.53 million. Shareholders previously approved the purchase of a construction plot of 8,081 square metres in Novo Lisiche for €17.7 million, intended for residential and commercial development.

The company says renovation and modernization work temporarily reduced activity at some properties because of construction, but expects the upgrades to generate higher long-term revenue from its core hotel and catering operations. Makedoniaturist is one of the country's largest hotel and hospitality groups, with more than six decades of experience and a portfolio that includes Holiday Inn, Turist, Karposh, Belvi and Vodno hotels in Skopje. Its shares are listed on the Macedonian Stock Exchange.

Photo: press material from the event