ZAGREB, 13 Sept 2021 - Enterprises from Zagreb, Osijek, and Varaždin top the ranking considering the 2020 consolidated net profit broken down by cities, shows an analysis of data provided by the Financial Agency (FINA).

The remaining seven cities that make the top ten list in this survey are Karlovac, Sveta Nedelja, Rijeka, Čakovec, Solin, Vukovar, and Kutina.

Businesses in the top 10 cities make up 4/5 of total net profit of all businesses in Croatia

The consolidated net profit of the businesses registered in all those ten cities in 2020 was HRK 16.6 billion, and the consolidated net profit of all the businesses in the whole of Croatia totaled 20.97 billion last year.

There were 62,365 businesses registered in those ten cities, and they employed 493,716 people or 52.1% of all the workers on the payrolls of all the businesses across Croatia.

In Zagreb alone, there were 46,347 registered businesses with 369,080 employees on their payrolls, and they made a net profit of 12.2 billion kuna or 73.5% of the total net profit of all the businesses in Croatia in 2020. The business performance of the Croatian power company HEP pushes the capital city to the top of the ranking.

Osijek ranks second with its businesses making a net profit of HRK 669.6 million. The biggest eastern city ranks second owing to the business performance of the Žito food company.

Varaždin comes in as third, with the net profit of the businesses registered in this northern city totaling HRK 571.6 million. The largest share of this success is contributed by the Zagorje-Tehnobeton construction company.

Karlovac follows with HRK 509.4 million, and Sveta Nedelja, a town west of Zagreb, registered HRK 490.1 million in the net profit of the businesses in that area.

The list also includes Rijeka (HRK 489.6M), Čakovec (HRK 476.1M), Solin (HRK 438.2M) Vukovar (HRK 404.2M) and Kutina (HRK 353.3M)

(€1 = HRK 7.5)

For more, follow our business section.

ZAGREB, 29 April, 2021 - INA posted the net profit of HRK 50 million in the first three months of 2021, according to the latest quarterly financial report released by this leading Croatian oil group on Thursday.

For the sake of comparison, in the Q1 2020, INA registered a loss of HRK 178 million.

In the first three months of 2021, the group's revenues totalled HRK 4.17 billion, rising by 0.6% on the year, whereas the expenditures contracted 19.7% to 4.11 billion kuna.

The statement reads that "the beginning of 2021 was marked by a more favorable external environment compared to 2020, which was one of the most challenging years for oil & gas industry."

"Although world economy is still far from recovery and demand is limited, impact of gradual easing of COVID-19 restrictions is visible," it says.

"EBITDA reached HRK 467 million and Profit for the period amounted to HRK 50 million, in contrast with the losses in 2020 caused by a large drop in hydrocarbon prices and consequent negative inventory revaluation," INA reported in its financial statement.

"Exploration and production benefited from the increased hydrocarbon prices but natural decline continued with production level below 28 th boe/d, 12% lower compared to Q1 2020. This drove the segment’s EBITDA to HRK 401 million, 5% lower compared to Q1 2020."

In Q1 2021, INA entered a new concession in Egypt, following efforts to partly compensate for the natural decline of production on domestic fields.

For more about business in Croatia, follow TCN's dedicated page.

ZAGREB, November 12, 2020 - DM-Drogerie Markt Hrvatska, health & beauty retailer concluded the 2019/2020 financial year, which ends in September, with a total turnover of HRK 2.25 billion, 2% more than the preceding financial year, and generated a net profit of HRK 39.86 million, the company reported on Thursday.

DM invested more than HRK 33 million in the 2019/2020 financial year for the modernisation of seven retail outlets. It opened three specialised departments for over the counter (OTC) medication and launched an online web shop.

"In a year when the entire community is faced with unforeseeable business conditions we maintained our trend in growing turnover and retained the trust of our consumers. During the past financial year DM stores had more than 79,999 buyers visiting its stores every day. We also recorded a sales growth in OTC products of 24.29%," DM Hrvatska director Mirko Mrakuzic underscored.

He announced that DM plans to invest HRK 74 million in the 2020/2021 financial year to develop its retail network, expand the range of products and update its stores as well as expand its range for online shopping.

DM is focused on protecting the health of its workers, says Mrakuzic adding that the average take-home pay in their stores amounts to HRK 10,399. He added that DM has thanked its employees for their efforts in these extraordinary circumstances by giving them a bonus gift card valued at HRK 1,650 and that 98 days of further training had been organised involving 750 employees.

DM has 160 retail stores in 61 cities in Croatia and 1,592 employees and is the only drugstore of this kind that has an online shop in Croatia.