Varaždin County Businesses See Higher Net Profit, More Employees in 2020 Than in 2019

Total Croatia News

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Varazdin Tourist Board
Varazdin Tourist Board

Last year, the total revenues of the 4,276 businesses that had their main offices registered in that northern Croatian county stood at HRK 27.5 billion, down by 0.3% on the year, and their total expenditures were cut by one percent to HRK 26 billion.

In terms of revenues, the food company Vindija topped the ranking, HRK 3 billion.

WE-KR, a company specialized in manufacturing metal structures, saw the highest profit.

The net profit for the period of all the enterprises in the county came to HRK 1.5 billion, rising by 26.5% from 2019, the loss for the period jumped by 49.1% to HRK 290.2 million. As a result, the consolidated financial outcome of the profit was HRK 1.3 billion, or 23.3% more than in 2019.

Gross fixed capital formation increased by 5.5% in 2020.

The exports of the businesses registered in Varaždin County declined by 4.5% to HRK 9.2 billion, and imports shrank 11.5% to HRK 5.1 billion.

The biggest exporter, based in Varaždin County, was Boxmark Leather, whose exports totaled HRK 934.6 million, and it had the highest number of employees, 2,234.

Last year, the number of people on the payroll of all those 4,276 businesses increased by 701 or 1.6% to 43,889 on the year.

Last year’s average monthly wage in county businesses was 12% lower than Croatia’s average

The average monthly net wage paid to workers in Varaždin County-based businesses totaled HRK 5,257, or 2.3% more than in 2019. However, the comparison of the average net monthly wage paid by enterprises in the whole of Croatia, (HRK 5,971), and by this county’s enterprises in 2020 shows that workers in this northern county received the monthly salary lower by 12% than the country’s average.

(€1 = HRK 7.476883)

For more, make sure to check out our dedicated business section.


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