Modra Spilja dd

Modra Spilja dd has a debt-free capital structure, with total liabilities of EUR 586,160 and total equity of EUR 7,651,720, resulting in a debt-to-equity ratio of 0.0 [doc:HA-latest]. The company maintains strong liquidity, as evidenced by a current ratio of 9.88, indicating ample short-term assets to cover liabilities [doc:valuation snapshot]. Free cash flow of EUR 62,230 and operating cash flow of EUR 186,730 suggest positive cash generation despite a negative net income of EUR 3,470 [doc:HA-latest]. Profitability metrics are weak, with a return on equity of -0.05% and return on assets of -0.04%, indicating underperformance relative to industry norms for hotels, which typically require higher returns to justify capital intensity [doc:valuation snapshot]. Gross profit of EUR 1,244,160 represents 62% of revenue, but operating income is negative at EUR -84,220, signaling cost overruns or pricing pressures [doc:HA-latest]. The company operates as a single-segment entity, with all revenue derived from its hotel in Vis island. Geographic concentration is total, with no overseas operations or disclosed diversification [doc:HA-latest]. This exposes the business to regional economic and tourism fluctuations, particularly in the Adriatic market. Growth trajectory is unclear, as no forward-looking revenue guidance is provided. Historical revenue of EUR 2,007,090 reflects a hospitality business sensitive to seasonal and macroeconomic cycles. Capital expenditure of EUR -50,970 suggests maintenance spending rather than expansion [doc:HA-latest]. Risk factors include low liquidity and dilution risk, with no immediate filing-based flags detected. However, the negative net income and weak returns highlight operational inefficiencies that could pressure future performance [doc:risk assessment]. No dilution sources are identified, and shares outstanding remain unchanged between basic and diluted measures [doc:HA-latest]. Recent events include no disclosed filings or transcripts, and the company has not established subsidiaries or overseas services, limiting visibility into strategic initiatives [doc:HA-latest].