Retail Businesses Earn HRK 2.2 Billion in Profit in 2020

Total Croatia News

Updated on:

Marin Tironi/PIXSELL
Marin Tironi/PIXSELL

The number of retail businesses in 2020 was 3.1% up from the previous year.

In 2020, the first year of the coronavirus pandemic, those businesses earned revenues in the amount of HRK 101.5 billion, while their expenditure totalled HRK 98.8 billion.

A total of 5,450 businesses operated at a profit, a drop of 13% from the previous year while the number of loss-making businesses increased by 18.3% to 3,708.

Profit for the period amounted to HRK 3.2 billion, a drop of 6.9% from 2019, while the loss for the period dropped by 4.8% to 1.05 billion.

The consolidated financial result was a net profit of HRK 2.2 billion, a year-on-year decrease of 7.8%.

The average monthly net wage in the retail sector in 2020 was HRK 5,306, which is 8.7% more than in 2019 and 11.1% below the average monthly net wage in the enterprise sector in Croatia (5,971).

Konzum Plus with highest revenue

The Konzum Plus retailer earned the highest revenue in 2020, HRK 10 billion.

It is followed by Lidl Hrvatska, with HRK 6.1 billion, and Spar Hrvatska with HRK 5 billion.

The highest profit for the period in 2020 was earned by Lidl Hrvatska, in the amount of HRK 274.8 billion.

Number of employees, revenue, net profit increase between 2016 and 2020

In the period from 2016 to 2020, the number of employees in the retail sector grew by 12.1%, total revenue increased by 16.4%, expenditure by 15.3% and net profits by as much as 84%.

Retail businesses operated at a profit throughout the period, the highest profit being reported in 2019, amounting to HRK 2.3 billion.

The number of employees in the period grew by 11,058 or 12.1%, from 91,027 employees in 2016 to 102,085 in 2020.

The average net wage grew by 23.7% from HRK 4,288 in 2016 to HRK 5,306 in 2020.

(€1 = HRK 7.5)


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