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Croatian brewing companies post profit of EUR 39.5M in 2014

ZAGREB, Aug 4 (Hina) - A total of 32 Croatian companies whose core business is beer production posted a consolidated profit of HRK 298.8 million on aggregate in 2014, and increased the number of their workers by 2% to 1,503, according to statistics provided by the Croatian Finance Agency FINA.

Furthermore, the average monthly net salary of HRK 8,812 per worker in those breweries was considerably above the Croatian average take home pay, according to FINA figures released ahead of International Beer Day, observed on the first Friday of every August.

The average net salary per worker in the breweries rose 0.9% on the year, and was by 80.6% higher than the Croatian average monthly salary of HRK 4,878 paid by entrepreneurs, FINA has reported.

In 2014, the 32 beer producers saw a decrease of 11.9% in their total revenues, and their expenditures dropped bny 6.1% to HRK 1.8 billion.

Thus, their consolidated net profit was 298.9 million kuna in 2014, declining by 40% from 2013.

Of those 32 breweries, 17 made profits in 2014, while 15 incurred losses.

The pre-tax profit of the Croatian brewing companies was HRK 402.9 million kuna, down by 41.5% on the year. They managed to cut pre-tax losses by 78.8% to HRK 29.5 million.

As many as 7 Croatian breweries also exported their products in 2014.

The top brewing company was "Zagrebacka Pivovara" with its total earnings of 914.1 million kuna, that accounted for 42.3% of all earnings of breweries operating in Croatia.

It was followed by the Karlovac-based Heineken Croatia and the Koprivnica-based Carlsberg Croatia. "Pivovara Osijek" ranks fourth and the Buzet-based "Istarska Pivovara" was also among the top five breweries according to their total revenues.

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