Croatian winemakers see net profit skyrocket over 140%

ZAGREB, 13 Nov (Hina) – Wine making businesses in Croatia in 2023 earned a net profit of €5.7 million, which is a year on year increase of 141.6%, show data from the Financial Agency (Fina).

Last year there were 275 wine-making enterprises with 1,542 employees, an increase of 1.9% compared to the previous year.

Their total revenue amounted to €141.9 million, a year on year increase of 12.9%, while their total expenses grew by 9.9% to €134.4 million.

Winemakers’ profit for the period was €9.6 million, an increase of 16.8% while their loss for the period was down 36.9% to €3.6 million.

2 in 3 wine-making businesses operate at profit

Of the total number of wine-making businesses, 65.1% operated at a profit while 34.9% reported losses.

The average monthly net wage in the sector was €906, 12.8% more than in 2022 and 11.9% below the national monthly net average in the enterprise sector, at €1,028.

The trade balance in the wine-making industry was positive, around 2 million euros. Imports grew by 38.1% to €3.9 million while exports rose by 4.8% to 5.9 million.

Grape-growing enterprises earn €3.3m in net profit, 7 in 10 operate at a profit

In 2023 there were 116 grape-growing businesses with 649 employees.

Those enterprises had a positive consolidated financial result of €3.3 million, as against 4.5 million in 2022.

Of all grape-growing enterprises, 69% operated at a profit.

Their total revenue was €48.1 million, 3% more than in 2022. Total expenses grew by 5.9% to €43.9 million, while the profit for the period dropped by 22.8% to €5.1 million and the loss for the period dropped 12.6% to €1.8 million.

The average net monthly wage in the grape-growing sector was €791, 5.4% more than in 2022.

Exports dropped by 7.5% to €2.5 million, imports rose by 10.5% to €3.4 million and the trade deficit was €856,000.

An analysis of investments shows a 110.1% rise in investments in wine-making to €4.6 million while investments in grape-growing rose by 163.6% to €5.2 million.

The Agrolaguna winemaker from Poreč had the highest total revenue, of €20 million. The small enterprise VINOPLOD-VINARIJA from Šibenik had the highest profit for the period, of €1 million.

The Iločki Podrumi grape-growing business had the highest revenue in 2023, of €10.7 million while SAINTS HILLS had the highest profit for the period, of €891,000.