Two banks reported the highest profits last year. This is just one of a series of pieces of information you can read in the publication 1000 Largest, which will be published alongside this week’s issue of Lider. This most relevant set of data on business operations in 2019 is based on data from the Financial Agency derived from the annual financial statements submitted by 136,260 companies.
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PBZ was the only one to report a gross profit exceeding two billion kuna last year – 2.15 billion. Following are three more billionaires: Zaba (1.83 billion kuna), HEP (1.23 billion), and Pliva Hrvatska (1.17 billion). Among the ten companies that reported the highest profits, there are two more banks, confirming that they are the most profitable sector – all banks among the TOP 100 reported a profit of 6.69 billion kuna, which is even two and a half times more than the energy sector, led by HEP’s companies.
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On the other, negative side, Fortenova Group leads with a loss of 854 million kuna. Following are Jadroplov with a minus of 294 million kuna, and B2 Capital with expenses exceeding revenues by 211 million kuna. Just as banks lead among the profit-makers, Fortenova’s companies lead among the losers – among the ten largest losers, there are three more companies from the group – Velpro-centar plus, Konzum plus, and Tisak plus. Fortenova has 14 companies among the 1000 largest. Of these, seven ended last year with losses that cumulatively exceeded one billion kuna. However, it should be noted that these companies reduced their losses last year, which amounted to 1.68 billion kuna in 2018.
However, the decline in revenue is particularly concerning, which was recorded by every one of Fortenova’s 14 flagship companies last year, and this decline from 21.5 billion to 17.5 billion cumulatively amounts to a full four billion kuna. As we compared the results of the new, so-called mirror companies from 2019 with the operations of the original Agrokor companies in 2018, we can say that these companies lost 19 percent of their revenue in the transition year (which is not reported anywhere else).
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