Croatian Entrepreneurs Achieved 44.8 Billion Kuna in Net Profit in 2021

Croatian entrepreneurs operated last year with a consolidated net profit of 44.8 billion kuna, which is 109.6 percent more than in 2020, according to data from the Financial Agency (Fina).

Of 144,259 entrepreneurs subject to profit tax (excluding financial institutions), last year, 94,288 entrepreneurs, or 65.4 percent, achieved a profit of 61.9 billion kuna. A loss of 17.1 billion kuna was reported by 49,971 entrepreneurs (34.6 percent).

Compared to 2020, entrepreneurs achieved a 36.2 percent higher profit last year, with a 29 percent reduction in losses.

– This resulted in a consolidated net profit of 44.8 billion kuna, which is twice as much compared to 2020 (21.4 billion kuna) – states the Fina announcement.

Total revenues of entrepreneurs increased by 20.8 percent, while expenses increased by 17.9 percent.

According to Fina data, last year Croatian entrepreneurs achieved 885.7 billion kuna in total revenues, which is a 20.8 percent increase compared to the previous year.

Their total expenses amounted to 831.9 billion kuna, which was an increase of 17.9 percent.

In 2021, Croatian entrepreneurs had 964,742 employees based on hours worked, or 3.4 percent more than the previous year.

The average monthly calculated net salary was 6,350 kuna, which is 6.1 percent more compared to 2020.

On foreign markets, 22,462 entrepreneurs (15.6 percent) marketed their products and services, with total revenues of 189.1 billion kuna generated from the sale of goods in foreign markets, representing a 35.8 percent increase in exports compared to 2020.

In the same period, goods worth 159.7 billion kuna were imported, resulting in a trade surplus of 29.4 billion kuna.

According to Fina data, the most entrepreneurs are still in trade (28,507), and they achieved the highest total revenues (296.1 billion kuna). They also achieved the highest net profit of 11.5 billion kuna, which is an increase of 49.8 percent compared to 2020.

The most employees were in the manufacturing industry, totaling 236,151, which is 1.2 percent more than in 2020.

When viewed by the size of the entrepreneurs, there are the most micro-entrepreneurs, totaling 129,620 (89.9 percent), small ones 12,678 (8.8 percent), medium-sized 1,589 (1.1 percent), and large ones 372 (0.3 percent).

All four groups of entrepreneurs reported net profit in 2021 – micro-entrepreneurs had a profit of 6.6 billion kuna, small entrepreneurs 11.3 billion kuna, medium-sized entrepreneurs achieved 10.3 billion kuna, and large entrepreneurs 16.7 billion kuna.

When viewed by counties, entrepreneurs based in the City of Zagreb still dominate, with 47,956 based there, which is 33.2 percent of the total number of entrepreneurs.

Total revenues grew the most in the Vukovar-Srijem County (57.2 percent), while net profit grew the most in Zadar County (almost 15 times more compared to 2020), according to Fina’s announcement.

They also highlight that the highest revenues in 2021 were achieved by Ina, amounting to 22.3 billion kuna, as well as the highest profit for the period, amounting to 1.3 billion kuna.