Croatian bakery industry entrepreneurs generate HRK 167.6 million in consolidated profit

ZAGREB, Oct 25 (Hina) – Entrepreneurs in the Croatian bakery industry in 2019 generated a consolidated profit of HRK 167.6 million, an increase of 7.3% compared to 2018, according to Financial Agency’s (FINA) data on entrepreneurs in the bakery industry.

According to data from annual financial reports, 917 entrepreneurs operated in the manufacture of bread, fresh pastry goods and cakes, with 15,884 employed persons, up 1.7% compared to 2018, FINA stated recently.

Total revenue generated in 2019 by entrepreneurs in the manufacture of bread and related products amounted to HRK 4.8 billion, an increase of 5.8% compared to 2018.

In the same period, total expenditure went up by 5.7% to HRK 4.62 billion.

The consolidated profit was HRK 167.6 million, up 7.3% compared to 2018.

More than two-thirds of entrepreneurs in bakery industry operate at a profit

FINA’s data show that of the total number of entrepreneurs in the bakery industry, 628 or 68.5% operated at a profit.

Last year, export earnings of entrepreneurs in the bakery and confectionery industry amounted to HRK 180.2 million, an increase of 28.4% compared to 2018, while import rose by as much as 154.5% to HRK 242.6 million.

The average monthly take-home pay of those employed in the bakery industry was HRK 4,343, which is an increase of 8.1% compared to 2018 but also 25.3% less than the average monthly take-home pay of those employed by entrepreneurs in Croatia, which was HRK 5,815 in 2019.

Of the 917 entrepreneurs in the manufacture of bread, fresh pastry goods and cakes, the highest profit of HRK 693.2 million was generated by the Mlinar company, which has a share of 14.4% in the total revenue in the bakery industry.

Mlinar also had the largest number of employees, 1,538.