Croatian private sector companies generated net profit of €7.9 billion in 2023, which is 19.9% more than in 2022, reports the Financial Agency (Fina).

Last year, 153,809 private sector companies employed 890,190 workers (5.6% more than in 2022) and generated a total turnover of 138.1 billion euros (+10%), while the loss of companies that were in the red in 2023 was 2.5 billion euros ( 9.3% more than in 2022).

“The private sector played the most important role in business activity in 2023. It accounted for 98.5% of companies, 86.5% of employees, 85.7% of total revenue, 90% of profit for the period, 90.2% of loss for the period, 67.4% of gross fixed capital formation and 90% of total net profit of companies in Croatia,” said Fina.

The average monthly net wage for employees in the private sector was €1,002, 2.6% below the average for all companies in the country (€1,028).

State-owned companies

In 2023, there were 1,192 state-owned companies in Croatia. They employed 93,912 people and generated a total turnover of €13.5 billion, an annual profit of €385.6 million and an annual loss of €93.8 million.

Their net profit in 2023 therefore totalled €291.7 million, after this segment closed 2022 in the redat €545.5 million

Compared to 2022, the state-owned companies increased the number of employees by 0.2% and increased total revenue by 18% and profit for the period by 39.1%, while reducing the loss for the period by 88.6%

The average monthly net wage for employees in the state sector was € 1,143, 11.2% higher than the average for all companies in the country (€ 1,028)

Companies with mixed ownership

As far as mixed-ownership companies are concerned, 295 of these companies employed 43,693 people last year.

They generated a total turnover of €9.2 billion, a profit of €752.9 million and a loss of €167.4 million, meaning that their net profit for 2023 totalled €585.4 million.

Compared to 2022, they reduced the number of employees by 0.6% and reduced total income by 4.9% and total expenses by 4%. On the other hand, they increased profit for the period by 9.4%, while the loss for the period rose by 49.3% and net profit increased by 1.7%.