FT Lists Croatian Submarine Among 1000 Fastest Growing European Companies

Lauren Simmonds

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As Poslovni Dnevnik writes, the Financial Times (FT) a leading and highly respected publication which deals with all things related to politics and finance and has been around for more than 130 years now, has turned the spotlight on no less than the Croatian Submarine.

“In the autumn of 2020, we were contacted by the London office of the Financial Times. They requested documentation related to our business, for the purpose of possible inclusion in the prestigious list of the fastest growing European companies. From the very beginning, the Croatian Submarine company´s approach has been complementary in some segments to the business of technology companies. We´re really flattered by the fact that we, as a company from the non-technology industry, have ended up side by side with tech companies. This is a recognition for the entire company and the entire Submarine team. The imperative has always been the satisfaction of our employees because without it there can be no successful company,¨ said Aleksandar Lazinica, founder and co-owner of the Croatian Submarine company.

A place on the Financial Times list cannot be purchased for any money, and the entire business has been analysed in detail over the past five years. To be considered for the list at all, the company had to have an annual revenue of a minimum of 100,000 euros and then at least 1.5 million euros back in 2019. Consequently, the company had to record growth above 35.5 percent. By comparison, Submarine achieved total growth of 221.4 percent, its company revenue in 2019 stood at a staggering 4.5 million euros, and had 77 employees.

In the year when the coronavirus spread across the world, the Croatian Submarine company exceeded the annual revenue they acheived in 2019 by an impressive 30 percent and it will be interesting to observe the order on that same list for 2021, writes N1. Of course, these are just a few of the strict criteria that companies had to meet, and with its results, Submarine became the only non-technological company from the Republic of Croatia to be listed, ranking as the 720th fastest growing company according to the Financial Times.

This is not the only recognition for the team behind Submarine. It is worth recalling that back in 2019 they entered the list of 50 places in which you can eat the best burger in the world according to the readers of the Big 7 Travel portal, which has a community of 1.5 million readers.

“We totally adjusted the way in which we do business way back at the very beginning of the pandemic. Agility and adaptation to new business conditions is the key to any company’s success. Investing in knowledge, new technologies and strengthening the management team has borne fruit. We´re extremely proud of this recognition and I once again would like to congratulate all members of the Submarine team!¨ concluded Dragoljub Bozovic, the founder and CEO of Submarine.

Despite the ongoing pandemic and all of the economic knock-on effects which accompany it, the Croatian Submarine company opened two new restaurants. In 2021, they plan to open five more throughout Croatia, thus fulfilling their mission to provide pleasure and the enjoyment of organic burgers throughout the country.

For more on Croatian companies, follow Made in Croatia.


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