GDP growth does not bring better business results to everyone.
Although they are usually not among companies with highest incomes and profits, logistics and transportation companies are the cornerstones of every economy, because without them the market would simply not function. Motorway, rail, sea and airline concessionaires and owners, warehouse managers and transportation companies of all kinds belong to this sector, reports Poslovni.hr on September 17, 2017.
Since many of the stakeholders in the industry are public companies, the profitability is not their priority, which can be seen from the list of 505 largest Croatian companies. Croatian Motorways (HAC) is the biggest business in the sector with revenues in the amount of 1.69 billion kunas, placing them at the 32nd position overall. The income generated is 6.8 percent higher than in the previous period, and the company did not show any profit or loss.
On the 37th position overall is Croatia Airlines with 1.61 billion kunas of revenue, which was a growth of 3.6 percent. The profit of eight million kunas was 42 percent lower than the year before. Still, Croatia Airlines has now been operating profitably for four years in a row. Its investments were 44 percent higher than in the previous year and mostly included investments directly linked to fleet maintenance and aircraft operation. During 2016, a total of 1.94 million passengers were transported, which was five percent more than a year earlier. In 2016, four new services were introduced, from Zagreb to Lisbon, Milan, Prague and St. Petersburg, and the companies’ aircraft flew directly to 35 destinations in 20 countries.
The third largest company in the transportation and logistics sector is Croatian Railways Infrastructure, which had a revenue of 1.2 billion kunas last year, which was 10.5 percent less than the year before. The profit of one million kunas was significantly smaller than the nearly 11 million kunas in 2015. The company adds that it is currently the investor of the largest infrastructure projects in Croatia, mostly financed by the European Union funds.
Zagreb International Airport (MZLZ), a company which manages the Franjo Tuđman International Airport, had revenues of 1.17 billion kunas last year, or one percent more than in 2015. However, profits jumped by 205 percent to 38.3 million kunas. The airport has broken many records in recent years, and it is expected that the trend will continue until the end of this year. “This July was the record month for the airport by the number of passengers. As many as 351,532 passengers passed through the Zagreb’s Airport, which was an increase of 14.5 percent over the same month last year. The increase in the volume of traffic is accompanied by an increase in the number of employees. Since the opening of the new passenger terminal, a total of 118 new employees have been hired. The new passenger terminal was opened at the end of March, and since then it has seen steady growth in traffic and the arrival of new airline companies. Thanks to the existing flights, but also to the introduction of new ones which will connect Zagreb with other destinations and make it accessible to a larger number of visitors, it is expected that the number of passengers by the end of the year will exceed three million for the first time,” said the airport representatives.
The Rijeka-Zagreb Motorway (ARZ) is the 5th largest logistics company in Croatia, with the total revenue of 1.15 billion kunas, which was 71.6 percent more than the year before. The profit of 589.7 million kunas was 334 percent higher than in the previous period.
Ameropa grain terminal in Split is the largest warehouse services company in Croatia with a revenue of 888.6 million kunas, down by 14.7 percent compared to the previous year. It is followed by Croatian Railways Passenger Transport with 857.6 million kunas in income and Jadrolinija with 845.1 million kunas in revenue. The top 10 list of companies in transportation and logistics sector ends with Croatia’s Air Traffic Control with 757.4 million kunas in income and the Adriatic Pipeline with 752.7 million kunas.
Translated from Poslovni.hr.
