Continental Entrepreneurs Achieved Profit of 31.3 Billion, Adriatic 10.1 Billion in 2017

Fina has published the business results of entrepreneurs at the level of Continental and Adriatic Croatia in 2017.

An analysis of Croatian entrepreneurs in 2017 at the NUTS-2 level showed that there were 75,111 entrepreneurs (62.6%) based in Continental Croatia, while 44,970 entrepreneurs (37.4%) were based in Adriatic Croatia, which is expected given that Continental Croatia consists of 14 counties, including the City of Zagreb, while the remaining seven make up Adriatic Croatia (table 1).

In Continental Croatia, there were 632,662 employees who achieved the following financial results: 526.5 billion in total revenues, 503.5 billion in total expenses, 31.3 billion in profit for the period, 13.4 billion in losses for the period, 17.8 billion in net profit, and the average monthly calculated net salary of employees amounted to 5,487 kuna, which is 2.1% higher than the salary of employees in Croatian entrepreneurs (5,372 kuna).

In Adriatic Croatia, there were 240,222 employees who achieved the following financial results: 151.9 billion kuna in total revenues, 146.3 billion kuna in total expenses, a profit for the period of 10.1 billion, a loss for the period of 6.1 billion, and achieved a positive financial result, a net profit of 4.1 billion kuna.

In Adriatic Croatia, a higher growth of employees (6.3%) was achieved compared to Continental Croatia (5.7%), total revenues grew by 10.6%, and the average monthly net salary increased by 4.3%, the same as at the level of Continental Croatia. The average monthly calculated net salary of employees in Adriatic Croatian entrepreneurs amounted to 5,080 kuna and was 7.4% lower than the salary of employees in Continental Croatian entrepreneurs and 5.4% lower than the average salary of employees in Croatian entrepreneurs.

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In Adriatic Croatia, the highest number of employees in 2017 was in micro-entrepreneurs (87,339), while in Continental Croatia, the largest number of employees was in large entrepreneurs (188,345).

Labor productivity measured by total revenue per employee, labor productivity measured by profit per employee, and the efficiency of overall business operations were higher in 2017 among entrepreneurs in Continental Croatia compared to those in Adriatic Croatia. The highest net profit in Continental Croatia was reported by entrepreneurs in the manufacturing industry, amounting to slightly more than 5 billion kuna (a decrease of 9.6% compared to the previous year).

Trade, professional, scientific and technical activities, manufacturing industry, and construction had the highest number of entrepreneurs in both regions in 2017, while in Adriatic Croatia, another area joined these activities, namely the provision of accommodation and food preparation and serving (table 4).

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The highest average monthly net salaries in 2017 were calculated by large entrepreneurs in Continental Croatia, 6,869 kuna, and in Adriatic Croatia, 6,183 kuna. The lowest salary was calculated by micro-entrepreneurs in Continental Croatia, amounting to 3,769 kuna, which was 4.6% lower than the average monthly salary of employees in micro-entrepreneurs in Adriatic Croatia (3,950 kuna).

The achieved profit of entrepreneurs in Continental Croatia in 2017 was influenced by the business results of 52,394 profit-makers, among which the following companies stand out: INA – Industrija nafte d.d., Hrvatski telekom d.d., HEP-Operator distribucijskog sustava d.o.o., Pliva Hrvatska d.o.o., HEP Proizvodnja d.o.o., all based in Zagreb, while among the 28,553 profit-makers based in Adriatic Croatia, the following companies are: Valamar Riviera d.d., Poreč, Maistra d.d., Rovinj, Tommy d.o.o., Split, Zračna luka Split d.o.o., Kaštel Štafilić, Plodine d.d., Rijeka, and Plava Laguna d.d., Poreč – all with more than 100 million kuna in achieved profit for the period.

You can download the ranking list of the top 50 entrepreneurs by profit for the period in 2017 here.