With their results, funds and sources, big enterprises dominate the Croatian economy but the financial results for 2017 show the year was more successful for micro-enterprises, according to the Financial Agency (Fina).

Fina analysed 120,081 enterprises who pay profit tax, excluding banks, insurance companies and other financial institutions as well as the companies within the indebted Agrokor conglomerate as only eight of the 35 filed financial statements for 2017.

Of those covered, 107,635 were micro-enterprises, 10,717 were small, 1,400 were medium-sized and only 329 were big.

The big ones employed 236,522 workers in 2017, 26.8 percent of all workers employed in enterprise, up 3.1 percent in 2016.

Big enterprises accounted for over 40 percent of all revenues and expenses, generating HRK 274.4 billion in revenues and HRK 261.9 billion in expenses. They posted HRK 15.4 billion in profits and HRK 5.4 billion in losses, putting their consolidated financial result at nearly HRK 10 billion in profit.

Big enterprises’ revenues in 2017 were up 7.6 percent on the year, while expenses were 9.5 percent higher. Their losses went up 121.6 percent, while their profit dipped by 0.4 percent and their net profit by 23.2 percent.

Medium-sized enterprises employed 173,713 workers in 2017 or 19.7 percent of all workers.

Their revenues totalled HRK 148.3 billion, 21.9 percent of total revenues, while their expenses were HRK 141.5 billion, 21.8 percent of total expenses. Their profits totalled HRK 7.7 billion, while losses stood at HRK 2.2 billion and net profits at HRK 5.5 billion.

Compared with 2016, medium-sized enterprises increased total revenues by 5.9 percent, expenses by 6.4 percent, losses by 8.1 percent and the number of employees by 2.7 percent. Profits were down by 1.9 percent and net profits by 5.4 percent.

Small enterprises employed 229,752 workers in 2017 or 26 percent of all workers.

Their revenues totalled HRK 161.3 billion, expenses were HRK 154.2 billion, or 23.8 percent and 23.7 percent respectively among all enterprises. Their profits totalled HRK 9.7 percent, losses were HRK 4.5 billion, resulting in HRK 5.2 billion in net profits.

Compared with 2016, small enterprises increased the number of employees by 2.4 percent, revenues by 6.8 percent, expenses by 7.5 percent, profits by 3 percent, losses by 21.1 percent and net profits by 8.7 percent.

Micro-enterprises employed 242,867 workers in 2017 or 27.5 percent of all workers. Their revenues totalled HRK 94.4 billion, expenses were HRK 92.1 billion and net profits were HRK 1.1 billion.

Compared with 2016, micro-enterprises increased the number of workers by 14.9 percent, revenues by 28.5 percent, expenses by 26.7 percent, profits by 61.2 percent and losses by 30.2 percent.

The average net monthly pay in enterprise in 2017 was HRK 5,372. It was highest in big enterprises, HRK 6,729, or 25.3 percent above the national average.

The average net monthly pay in medium-sized enterprises was HRK 5,878, or 9.4 percent above the national average, whereas in small enterprises it was HRK 5,217, 2.9 percent below average.

The lowest average net monthly pay was in micro-enterprises, HRK 3,834, 28.6 percent below the national average.

(EUR 1 = HRK 7.4)