Last year, Croatian businesses posted a total consolidated net profit of 44.8 billion kuna (€5.95bn), with medium and large companies accounting for 60.1 percent of the net profit, state news agency Hina said on Friday citing a report released by the state financial agency Fina.

According to Fina, large businesses generated a net profit of 16.7 billion kuna, while the profit generated by medium-sized companies amounted to 10.3 billion kuna. The consolidated financial result of small businesses last year was 11.3 billion kuna, and that of micro-entrepreneurs was 6.6 billion kuna.

Hina did not clarify the size criteria used by Fina.

“With their businesses results, the means, and sources at their disposal, large companies unquestionably dominate Croatia’s economy,” Fina said.

Last year 372 large businesses had 264,604 employees (a share of 27.4 percent in the overall sector) and generated total revenues of 370.4 billion kuna (41.8 percent), posting 16.7 billion kuna in net profit (37.2 percent). In 2021, there were 1,589 medium-sized enterprises with 176,105 employees (a share of 18.3%) and they generated 185.5 billion kuna in total revenues (20.9 percent) and net profit of 10.3 billion kuna (23 percent).

The large-sized companies with the largest profits in 2021 were the state-owned oil company Ina, state-owned power board Hep, and the pharmaceutical company Pliva Hrvatska. Among medium-sized companies, the most profitable were Emma Gamma Adriatic, Cervesia Zagreb, and Energia Naturalis.

There were 12,678 small enterprises last year (a share of 8.8 percent), they had 253,253 employees (26.3 percent), generated total revenues of 208.2 billion kuna (23.5 percent), and posted 11.3 billion kuna in net profits (25.2 percent). Micro-enterprises had 270,780 employees (a share of 28.1 percent), and they generated total revenues of 121.6 billion kuna (13.7 percent), and net profit of 6.6 billion kuna (14.6 kuna).

The highest average net salaries were paid by large enterprises, amounting to 7,816 kuna, which is 23.1 percent more than the national average, which was 6,350 kuna in 2021. The average wage in medium-sized enterprises amounted to 7,060 kuna, while small enterprises paid an average salary of 6,220 kuna. The lowest average wages were paid by micro-entreprises, amounting to 4,579 kuna (27.9 percent below the national average).

(€1 = 7.52 kuna)