Top 10 Croatian Cities in Terms of Highest Enterprise Earnings

Lauren Simmonds

As Poslovni Dnevnik writes on the 11th of September, 2020, last year, there were 63,598 enterprises in the top 10 Croatian cities with the highest average earnings, and they employed 498,387 employees.

Entrepreneurs from Zagreb, Porec and Rijeka made the largest consolidated net profit last year and are leading the list of 10 Croatian cities with the highest earnings, according to an analysis published by the Financial Agency (Fina). Among the top 10 Croatian cities according to the net profit criterion are Sveta Nedelja, Dubrovnik, Velika Gorica, Vukovar, Zadar, Varazdin and Rovinj.

Fina notes that compared to the ranking list from 2018, Split, Karlovac and Nasice dropped off the list, and the new ones on the ranking list are Sveta Nedelja, Zadar and Varazdin.

The consolidated net profit of entrepreneurs in the top 10 Croatian cities last year amounted to 23.5 billion kuna, while the consolidated net profit of all enterprises in Croatia stood at 31.3 billion kuna. Last year, there were 63,598 entrepreneurs in the above listed cities, and they, as stated, employed 498,387 workers.

The analysis of the data from these cities confirms the large concentration of business of enterprises, taxpayers of profit tax, in the 10 aforementioned cities, whose share is 46.7 percent in the number of enterprises 51.4 percent in the number of employees, 62.7 percent in total revenues, 66.7 percent in period profit, 51.9 percent in period loss and 75.1 percent in net profit.

The reason for that, as stated by Fina, is primarily due to the share of enterprises and businesses based/headquartered in the City of Zagreb, which is logical.

Zagreb-based enterprises, all 45,608 of them with their 372,776 employees, unsurprisingly realised the highest net profit, of 18.5 billion kuna, which is 59 percent of the net profit of all enterprises operating in the country.

They are followed by businesses from Istrian city of Porec who achieved a consolidated net profit of 706.1 million kuna back in 2019, and enterprises from Rijeka with a profit of 641.8 million kuna.

Enterprises from Sveta Nedjelja, who realised a net profit of 621.5 million kuna, are in fourth place on the list of the top 10 Croatian cities in terms of net profit, while enterprises down in Dubrovnik are in fifth place with a net profit of 597.6 million kuna.

Businesses from Velika Gorica near Zagreb are in sixth place with a net profit of 558.7 million kuna, enterprises from Vukovar are in seventh place with a net profit of 504.5 million kuna, and Zadar-based companies who realised a net profit of 497.1 million kuna last year are ranked in eighth place.

At the bottom of the list are the enterprises from the continental Croatian town of Varazdin with a net profit of 487.6 million kuna, taking ninth place, while companies from Rovinj, with net profits of 362.4 million kuna are in the tenth place.

According to Fina, HEP, Pliva and Hrvatski Telekom/Croatian Telecom (HT/CT) contributed the most to the good results of companies based in Zagreb, Valamar Riviera did the same in in Porec and Plodine did so in Rijeka.

Maba-Com, in bankruptcy, contributed the most to the results in Sveta Nedjelja, Adriatic luxury hotels did so in Dubrovnik, Lidl Hrvatska did so in Velika Gorica, Prvo plinarsko drustvo did so in Vukovar, Tankerska plovidba did so in Zadar, Gumiimpex-GRP did so in Varazdin and Maistra did the same in Rovinj.

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