Large Companies Dominate Croatian Economy

Total Croatia News

ZAGREB, July 28, 2018 – With their results, funds and sources, big enterprises dominate the Croatian economy but the financial results for 2017 show the year was more successful for micro-enterprises, according to the Financial Agency (Fina).

Fina analysed 120,081 enterprises who pay profit tax, excluding banks, insurance companies and other financial institutions as well as the companies within the indebted Agrokor conglomerate as only eight of the 35 filed financial statements for 2017.

Of those covered, 107,635 were micro-enterprises, 10,717 were small, 1,400 were medium-sized and only 329 were large.

The large ones employed 236,522 workers in 2017, 26.8% of all workers employed in enterprises, up 3.1% on 2016.

Large enterprises accounted for over 40% of all revenues and expenses, generating 274.4 billion kuna in revenues and 261.9 billion kuna in expenses. They posted 15.4 billion kuna in profits and 5.4 billion kuna in losses, putting their consolidated financial result at nearly 10 billion kuna in profit.

Big enterprises’ revenues in 2017 were up 7.6% on the year, while expenses were 9.5% higher. Their losses went up 121.6%, while their profit dipped by 0.4% and their net profit by 23.2%.

Medium-sized enterprises employed 173,713 workers in 2017, or 19.7% of all workers.

Their revenues totalled 148.3 billion kuna, 21.9% of total revenues, while their expenses were 141.5 billion kuna, 21.8% of total expenses. Their profits totalled 7.7 billion kuna, while losses stood at 2.2 billion kuna and net profits at 5.5 billion kuna.

Compared with 2016, medium-sized enterprises increased total revenues by 5.9%, expenses by 6.4%, losses by 8.1% and the number of employees by 2.7%. Profits were down by 1.9% and net profits by 5.4%.

Small enterprises employed 229,752 workers in 2017, or 26% of all workers.

Their revenues totalled 161.3 billion kuna, expenses were 154.2 billion kuna, or 23.8% and 23.7% respectively among all enterprises. Their profits totalled 9.7% kuna, losses were 4.5 billion kuna, resulting in 5.2 billion kuna in net profits.

Compared with 2016, small enterprises increased the number of employees by 2.4%, revenues by 6.8%, expenses by 7.5%, profits by 3%, losses by 21.1% and net profits by 8.7%.

Micro-enterprises employed 242,867 workers in 2017, or 27.5% of all workers. Their revenues totalled 94.4 billion kuna, expenses were 92.1 billion kuna and net profits were 1.1 billion kuna.

Compared with 2016, micro-enterprises increased the number of workers by 14.9%, revenues by 28.5%, expenses by 26.7%, profits by 61.2% and losses by 30.2%.

The average net monthly pay in enterprise in 2017 was 5,372 kuna. It was highest in big enterprises, 6,729 kuna, or 25.3% above the national average.

The average net monthly pay in medium-sized enterprises was 5,878 kuna, or 9.4% above the national average, whereas in small enterprises it was 5,217 kuna, 2.9% below average.

The lowest average net monthly pay was in micro-enterprises, 3,834 kuna, 28.6% below the national average.


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