Business

September the 2nd, 2021 - The Osijek software company Mono isn't a new player on the ever blossoming ''field'' of Croatian software developers and companies, in fact it has been a market leader in the field of eCTD software for some time now. As Poslovni Dnevnik/Suzana Varosanec writes, for years, the Osijek software company Mono has been one of the market leaders in the field of eCTD software, a standard used in the pharmaceutical industry when submitting information to regulatory agencies. Back in pandemic dominated 2020, they still excelled, managing to generate a massive 39.6 million kuna in revenue, while…

September the 2nd, 2021 - The Zagreb company Arosa Grande, which specialises in the design and manufacturing of prefabricated (prefab) buildings, hasn't faced any serious issues as a result of the pandemic, the epidemiological measures or even the earthquakes which struck back in 2020, a rise in iron prices has been and continues to be a thorn in their side. As Poslovni Dnevnik/Darko Bicak writes, Zoran Krstovski, Arosa Grande's director, explained that about 40-50 percent of the total construction costs of their facilities fall on galvanised pipes, which have become the most expensive of all the materials they require. "Last…

September the 2nd, 2021 - The Golden Key Awards are upon us, and with the horrendous pandemic dominated year of 2020 quite comfortably behind us, we can look at how Croatian companies performed under the most dire of economic circumstances. These are the best Croatian exporters of 2020. As Poslovni Dnevnik/Darko Bicak writes, Koncar - Distributive and special transformers/Distributivni i specijalni transformatori was named the best of the large Croatian exporters for last year. The Golden Key Award, which is being awarded for the fourteenth time in a row, was presented to them at the sixteenth annual convention of the Croatian Exporters'…

ZAGREB, 1 Sept, 2021 - The HEP national electricity provider paid HRK 840.6 million of last year's annual profit, into the state budget, HEP said on Wednesday following a decision by its general assembly on the distribution of its 2020 profit. The decision on this contribution to the budget was made based on a government decision on the amount, method and deadline for state-owned companies, who are obliged to pay 60% of their 2020 profit after tax into the state budget. HEP said in a press release that despite the unfavourable business circumstances in 2020, it had generated a profit amounting to HRK 1.4 billion.…

ZAGREB, 1 Sept, 2021 - Croatia's industrial production rose in July for the eighth month in a row, growing by nearly 4% on an annual level, indicating further recovery of production and the entire economy from the coronavirus crisis. The Croatian Bureau of Statistics (DZS) reported on Wednesday that industrial production had shrunk by 1.6% in July compared with the previous month, while increasing by 3.9% compared with July 2020. This was slower growth than in June, when production had jumped by 8.3% year on year. "Growth in the volume of industrial production continued in July, albeit at a slower rate…

September the 1st, 2021 - The excellent tourist season which appears to just keep on going has pushed the Croatian retail sector out of the slump the global coronavirus pandemic had forced it into. Analysts are, unsurprisingly, very optimistic as a result. As Poslovni Dnevnik/Ana Blaskovic writes, after a record jump in GDP in the second quarter of 2021, the indicators for the beginning of the third quarter, the most generous part of the year for the economy, also look fairly positive. In July, retail spending rose 12.8 percent for the sixth month in a row, reflecting a good tourist…

September the 1st, 2021 - As Croatia prepares to further loosen its measures and allow the currently closed off parts of coffee bars, restaurants and cafes to work as normal as of today, Minister Aladrovic has spoken out about which sectors can expect what in terms of aid, if anything at all. As Poslovni Dnevnik writes, Labour Minister Josip Aladrovic announced the reduction of state aid to sectors that have achieved good business results, as well as the continuation of aid to those who still desperately need it, as was further detailed previously. "This is no longer the situation on…

ZAGREB, 31 Aug, 2021 - A total of 842 project applications have been submitted to the public call "Strengthening the competitiveness of companies by investing in the digital and green transition", worth HRK 1.14 billion, and about 320 of them will receive funding, launching an investment cycle worth over HRK 3.6 billion. At a press conference at the Ministry of Economy and Sustainable Development, Minister Tomislav Ćorić recalled that the public call was open from 30 April to 31 May this year. The call is intended for small and medium-sized enterprises in the manufacturing and processing industries, with the aim of…

ZAGREB, 31 Aug, 2021 - Household deposits rose by 1.4% that is by 3.3 billion from June to July, and increased 8.4% on the year, according to the data released by the Croatian National Bank in its "Comments on monetary developments for July 2021" publication. Total deposits in Croatia reached HRK 350.7 billion in July, going up by 8.5 billion kuna or 2.5% from June, and jumped by 31.1 billion kuna or 9.7% comapred to July 2020. "The growth in total placements of monetary institutions to domestic sectors continued to accelerate in July, mirroring growing household lending, primarily in the…

ZAGREB, 31 Aug, 2021 - An analysis of the Croatian Finance Agency (Fina) shows that in 2020, the businesses registered in Split-Dalmatia County had a consolidated net profit of HRK 571.3 million, down by 27% compared to 2019. In terms of the total revenue in 2020, the Split-based Tommy retail chain topped the ranking with HRK 3.2 billion, and the Omiš-based Stuidenac ranked second, HRK 1.9 billion, and they were followed by the Vrgorac-based Pivac meat processing company, HRK 1.6 billion. Last year, there were 15,308 businesses with their headquarters in Split-Dalmatia County. Highest profit in 2020 made by sports betting company…