Former PM Milanović’s Consulting Business Flourishing

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The total revenues increased by almost 120,000 kuna, earnings from abroad rose while those from Croatia declined, and net profits exceeded half a million kuna. This is the 2018 financial statement of the EuroAlba Advisory company, a consulting firm that was founded three years ago by former Croatian Prime Minister and a potential candidate at presidential elections later this year Zoran Milanović, reports Jutarnji List on February 27, 2019.

The former SDP boss, who is the preferred presidential candidate for many members of his party, as well as most parties of the Amsterdam Coalition, is currently the only employee of the company headquartered at Miramarska Street in Zagreb.

The company’s total revenues in the previous year amounted to 744,970 kuna, an increase of 20 per cent compared to 2017 when revenues amounted to 625,000 kuna. About 115,000 kuna were the total expenses of Milanović’s company, only 13,000 kuna higher than in the previous reporting period.

Gross profits amounted to 629,000 kuna, or 552,952 kuna after tax payments, indicating that net earnings in relation to 2017 increased by about 93,000 kuna. It is as if he received a monthly salary of 46,000 for the whole year. However, the financial report reads that the former Croatian Prime Minister receives only slightly over 3,000 kuna a month. Namely, in the staff costs category, the annual net salary for employees amounted to 40,010 kuna, or 3,334 kuna per month. Milanović did not employ anyone last year, but remained the only employee, as he was in 2017.

According to publicly available data, the company whose sole business activity is “business and management consultancy”, had 209,000 kuna of revenues from “selling goods or services abroad” in 2018, which is an increase of almost 140,000 kuna compared to 2017.

At that time, Milanović’s consulting services abroad were linked to Edi Rama, the Albanian Prime Minister, regarding the country’s accession to the European Union. Whom Milanović advised in 2018 is unknown, but his acquaintances say that last year he travelled to China and Russia several times.

From consulting services in Croatia, Milanovic last year raised 535,000 kuna, or 20,000 kuna less than 2017. The media often linked the former SDP prime minister with the Crodux oil company.

In addition to his consultancy business, Milanović is the president of the Diplomatic Council of the Dag Hammarskjöld School of International Relations and Diplomacy. Before that, the post was held by Budimir Lončar, a former adviser to presidents Ivo Josipović and Stjepan Mesić. The dean of the college is Joško Klisović (SDP). Milanović founded the company in 2016, two months after he lost parliamentary elections.

More news about the former prime minister can be found in the Politics section.

Translated from Jutarnji List (reported by Tomislav Mamić).


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