Croatian enterprises see their 2015 profits double to HRK 17bn

Croatian enterprises ended 2015 with a consolidated profit of HRK 17.14 billion, more than twice as much as in 2014 when their total profit was HRK 8.5 billion, according to a report by the Financial Agency (FINA), compiled on the basis of annual financial statements.

The report is based on data from the FINA Register of Annual Financial Statements covering 106,569 enterprises subject to profit tax, excluding banks, insurance companies and other financial institutions.

The figures show that most enterprises, namely 68,611 or 64.4%, ended 2015 with a profit, which totalled HRK 35.9 billion and was 5.7% higher than in 2014. At the same time, 37,958 enterprises, or 35.6%, posted a total loss of HRK 18.7 billion, down 26.1% from 2014.

Broken down by size, there were 105,029 small enterprises, 1,192 medium-sized and 348 large enterprises, and all the large ones ended 2015 with a consolidated profit. Small enterprises generated a total profit of HRK 3.1 billion, medium-sized enterprises HRK 3.5 billion and large enterprises HRK 10.5 billion.

Broken down by county, the largest increases in profit were recorded in Istria County (267.4%), Primorje-Gorski Kotar County (218.8%), Sibenik-Knin County (115%), Krapina-Zagorje County (115.7%) and Zagreb County (104.7%).

In 2015, Croatian enterprises saw their revenues increase by 5.2% to HRK 639.6 billion, while their expenditures rose at a rate of 3.6% to HRK 617 billion. They paid HRK 5.55 billion in profit tax, or 39.5% more than in 2014.

The number of employees increased by 3.6% to 838,584 and their average monthly wages went up by 2.5% to HRK 5,019. Given an annual drop in consumer prices of 0.5%, the wages increased by 3% in real terms.

The report shows that only 18% of the total revenues, or HRK 115.3 billion, was generated by exports, which rose by 10.2% from 2014. A total of 5,385 enterprises, or 14.4%, exported their products and services, while imports increased by 5.9% to HRK 104.5 billion. The trade surplus was HRK 10.8 billion, which was an increase of as much as 81.3% compared with 2014.

Last year 21,175 enterprises invested HRK 38.4 billion in fixed assets, which was 14.3% more than in 2014.

(EUR 1 = HRK 7.478)

Last update: Fri, 29/04/2016 - 16:46

More from Business

Financial leaders in Davos optimistic about US, but see trade risk

The US economy will likely profit from the planned policies of its new president, as long as Donald Trump does not...

Facebook to build data centre in Denmark

The Danish city of Odense and social media giant Facebook announced on Thursday the city was to host a new European...

Freight train from China crosses 12,000 kilometres to London

The first Britain-bound freight train from China arrived in London on Wednesday, completing an 18-day trip across...

US prosecutors finalize 7.2-bln-dollar settlement with Deutsche Bank

The US Justice Department announced a 7.2-billion-dollar settlement Tuesday with Deutsche Bank over allegations that...

General Motors announces 1-billion-dollar investment in US workforce

General Motors will join other carmakers in opting to invest and hire inside the United States, the company...