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. Based on the assembly's decision, which was held at the end of August, HRK 70 million will be set aside as legal reserves, while HEP will retain HRK 490.3 million of its profit and as mentioned earlier, HRK 840.6 million will go to the state budget.

HEP noted some of its investments during 2021, highlighting the Kosinj hydroelectric project which the government declared a strategic investment project n July. Together with the Senj 2 project, these are the two largest investment projects for HEP since Croatia's independence. The Senj 2 project is valued at HRK 3.4 billion and will produce 412 megawatts (MW) of electricity into the grid.

(€1 = HRK 7.5) 

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May the 16th, 2021 - Minister Darko Horvat has come forward to answer questions about whether or not the Croatian Government has any plans up its sleeve to sell Croatia Airlines and even the well known and much loved brand Podravka.

Croatia Airlines has been knee deep in financial trouble since long before anyone had even heard of COVID-19, which, of course, has done the enfeebled domestic carrier no favours whatsoever. The ongoing pandemic is only working to deepen the airline's already gravely serious issues and it doesn't seem like Ryanair's Zagreb arrival is going to be of any assistance to what many refer to as a company which charges totally unreasonable amounts for the absolute basics in air travel.

Could a sale be on the cards for the ever-problematic Croatia Airlines? It seems that at least currently, that isn't in the works.

As Poslovni Dnevnik writes, Ministers Darko Horvat and Nina Obuljen Korzinek presented their reforms and investments as part of the much talked about Croatian National Recovery and Resilience Plan which are specifically related to the renovation of buildings and culture following the earthquake and the pandemic.

During the presentation of planned reforms in rehard to another burning issue in this country, which regards state property, Minister Darko Horvat answered the question as to whether the government plans to sell Croatia Airlines or Podravka, Media Servis reports.

"Neither this government nor I, as a minister, are considering any privatisation or sale of the Croatian share in Podravka. I'm sure, like my colleague Minister Oleg Butkovic, that Croatia Airlines either needs a quality and good strategic partner or must remain in the Croatian portfolio anyway. To lose an air traffic operator... well, I don't think it would be good or wise,'' Darko Horvat explained.

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