Businesses in Bakery Industry Report Revenue of HRK 4.5 bn in 2020

Total Croatia News

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Those businesses, specialized in producing grain-based foods that may include bread, cakes, pies, pastries, and similar foods, saw a 2% drop in the headcount to 15,121.

The bakery industry’s revenues of HRK 4.5 billion contracted by 6.1% compared to 2019, and its expenditure also dropped by 4.5% to HRK 4.34 billion.

As a result, the consolidated net profit of those 914 businesses was HRK 96.1 million, down by 44.3% year on year. Furthermore, 515 businesses, or 56.3%, finished 2020 in the black, while others were running at a loss.

The bakery industry’s exports increased 12.3% to HRK 196 million, and imports jumped by 26.7% to HRK 155.8 million. Thus, the trade surplus came to 40 million kuna, but was 22.1% lower than in 2019.

The average monthly wage in this sector was HRK 4,450 and was 25.5% lower than the average monthly take-home pay in Croatia last year (HRK 5,971).

The biggest business in the grain-based food industry in 2020 in the terms of revenues and in terms of employment was the Zagreb-based Mlinar company with its earnings of HRK 579.1 million, which amounted to 13% share of the market. It employed 1,560 workers whose average salary was HRK 5,700.

The Pan-Pek company followed, with HRK 256.1 million in revenues and 681 workers. The third-ranked was “Zagrebačke pekarne”, with HRK 220.3 million in revenues and 534 employees.

(€1 = HRK 7.511955 ) 

For more, check out our business section.


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