Those companies generated HRK 54.8 billion in revenues in the first nine months of 2014, nearly 6% less than at the same time in 2013, but expenditures were also cut, by 8.1% to HRK 51 billion.
The net profits of 41 companies rose to HRK 4.1 billion, up 43% on the first nine months of 2013.
The HEP power utility made the highest profit, HRK 2 billion. The State Agency for Deposit Insurance and Bank Resolution follows with HRK 383.1 million, the Croatian Compulsory Oil Stocks Agency with HRK 164 million, and the Croatian Bank for Reconstruction and Development with HRK 141.3 million. These three account for 64.3% of all profits.
Thirteen companies posted losses totalling HRK 1 billion, the highest generated by the Croatian Postal Bank (HRK 410 million), followed by the Petrokemija artificial fertiliser manufacturer (HRK 287m), the Croatia Osiguranje insurance company (HRK 169m), and Croatian Railways Cargo (HRK 69.6m).
Pejnovic said those companies increased their losses last year.
He said the tendency of constant and unnecessary hiring in strategic companies was stopped thanks to restructuring programmes, whereby staff was downsized by 5.2% to 79,223. Labour costs were slashed 8.5% to HRK 8.1 billion.
(EUR 1 = HRK 7.7)