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Viktor Lenac Faces €7.4 Million Loss After €8.9 Million Online Fraud

Viktor Lenac Faces €7.4 Million Loss After €8.9 Million Online Fraud

From Večernji List · (7m ago) Croatian Critical tone

Translated from Croatian, summarized and contextualized by DistantNews.

TLDR

  • Viktor Lenac, a Croatian shipyard, reported a loss of €7.4 million in the first quarter due to an online fraud that cost the company €8.9 million.
  • The company has filed a criminal complaint and is assessing insurance coverage, while its current operations remain stable thanks to retained earnings.
  • The resignation of the CEO, Sandra Uzelac, is linked to the incident, and the investigation into the missing funds is ongoing.

The recent financial report from Viktor Lenac, a prominent Croatian shipyard, has revealed a significant setback: a loss of €7.4 million in the first quarter of 2026. This figure stems from a substantial €8.9 million lost to an online fraud scheme. The incident, which has led to the resignation of CEO Sandra Uzelac, has cast a shadow over the company's otherwise stable operations. While the investigation into the missing funds is ongoing, the company has taken a precautionary measure by booking the entire loss as a business expense.

This cyber fraud incident highlights the growing vulnerability of even established companies to sophisticated online scams. The loss of nearly nine million euros is a considerable blow, and the uncertainty surrounding insurance coverage and the recovery of the stolen funds adds to the concern. Novi List reports that the company's financial statements indicate a dim outlook for recovering the money, and the applicability of the management liability insurance policy remains under evaluation.

Viktor Lenac je koncem ožujka 2026. godine utvrdio nepravilnosti zbog čega je nadležnim tijelima podnesena kaznena prijava protiv nepoznate osobe za nastalu štetu. Iako postoji polica osiguranja, stvarna primjenjivost pokrića i opseg eventualne naplate trenutačno se procjenjuju. Stoga je, iz načela opreza, Viktor Lenac za nastalu štetu teretio rashode poslovanja, zbog čega koncem ožujka iskazuje ukupan gubitak u visini od 7,4 milijuna eura

— Viktor Lenac Official StatementAn official statement from Viktor Lenac explaining the booking of the loss and the filing of a criminal complaint.

Despite this significant financial hit, Viktor Lenac's current operations are reportedly under control. The company's acting CEO, Luka Hrboka, assured that liquidity and business activities are not compromised, and all obligations are being met on time. This resilience is attributed to the substantial retained earnings from previous years, amounting to €33 million. This financial cushion has allowed the company to absorb the immediate impact of the fraud, but the long-term implications and the success of the ongoing investigation will be crucial for its future stability. The case serves as a stark reminder of the need for robust cybersecurity measures in the corporate world.

situacija u brodogradilištu pod kontrolom, da likvidnost i poslovanje ni na koji način nisu ugroženi, te da sve svoje obveze izvršavaju u rokovima dospijeća zahvaljujući zadržanoj dobiti koju je brodogradilište ostvarilo u proteklim godinama.

— Luka HrbokaStatement by the acting CEO of Viktor Lenac to Novi List, assuring the stability of the company's operations.
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Originally published by Večernji List in Croatian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.