Croatian winemakers see 55% surge in profits

Croatian winemakers see 55% surge in profits

ZAGREB, 14 Nov (Hina) – Last year, Croatian winemakers generated HRK 908.9 million (€120.7m) in total revenue and earned HRK 11.9 million (€1.58m) in consolidated net profit, which is an increase of 55%, the Financial Agency (Fina) reports.

In 2022, a total of 275 grape-wine producers operated in Croatia, employing 1,376 people, which is 3.2% more than in the previous year.

Winemakers generated HRK 908.9 million in total revenue, up by 16.3% compared with 2021, while their total expenditure increased by 15.7% to HRK 889.8 million.

Grape-wine producers increased their profit for the period by 5.9% to HRK 64.2 million and reduced their loss for the period by 1.3% to HRK 52.3 million. As a result, the net profit reached HRK 11.9 million, up by 55% from the net profit of HRK 7.7 million in 2021.

In 2022, 126 winegrowers operated in Croatia, employing 791 people, an increase of 4.8% on the previous year. They earned HRK 423.7 million in total revenue (+17.4%) and HRK 374.8 million in expenditure (+14.8%). 

Winegrowers increased their profit for the period by 29.1% to HRK 55.6 million and reduced their loss for the period by 1.8% to HRK 12.1 million. They generated a consolidated net profit of HRK 43.6 million, which is an increase of 41.5% compared with 2021.

The average net monthly wage with grape-wine producers was HRK 6,212, which is 12.4% more than in 2021 and 10.9% less than the national average of HRK 6,973. The average wage paid by winegrowers was HRK 5,461, or 9.2% more than in 2021.

Winemakers recorded a positive trade balance of HRK 23 million, with imports increasing by 97.8% to HRK 18.9 million and exports rising by 12.1% to HRK 41.9 million.

Winegrowers increased their exports by 23.3% to HRK 20.8 million, while their imports jumped by 90.3% to HRK 25.1 million. They recorded a trade deficit of HRK 4.3 million, compared to a trade surplus of HRK 3.7 million in 2021.

In terms of revenue, Poreč-based Agrolaguna was the top performer among the winemakers, with a total revenue of HRK 133.5 million in 2022. It posted a net loss of HRK 8.8 million, up from a net loss of HRK 6.2 million in 2021.

Among the winegrowers, Ilok-based Iločki Podrumi generated the highest revenue, of HRK 77.3 million, which is 18.2% of the total revenue generated in this sector.

(€1 = HRK 7.53)