Businesses in Bakery Industry Report Revenue of HRK 4.5 bn in 2020

By 18 October 2021
Businesses in Bakery Industry Report Revenue of HRK 4.5 bn in 2020

ZAGREB, 18 Oct 2021 - In 2020, there were 914 businesses in Croatia's grain-based food industry, and they employed over 15,000 workers and earned HRK 4.5 billion, according to data provided by the Finance Agency (FINA).

Those businesses, specialized in producing grain-based foods that may include bread, cakes, pies, pastries, and similar foods, saw a 2% drop in the headcount to 15,121.

The bakery industry's revenues of HRK 4.5 billion contracted by 6.1% compared to 2019, and its expenditure also dropped by 4.5% to HRK 4.34 billion.

As a result, the consolidated net profit of those 914 businesses was HRK 96.1 million, down by 44.3% year on year. Furthermore, 515 businesses, or 56.3%, finished 2020 in the black, while others were running at a loss.

The bakery industry's exports increased 12.3% to HRK 196 million, and imports jumped by 26.7% to HRK 155.8 million. Thus, the trade surplus came to 40 million kuna, but was 22.1% lower than in 2019.

The average monthly wage in this sector was HRK 4,450 and was 25.5% lower than the average monthly take-home pay in Croatia last year (HRK 5,971).

The biggest business in the grain-based food industry in 2020 in the terms of revenues and in terms of employment was the Zagreb-based Mlinar company with its earnings of HRK 579.1 million, which amounted to 13% share of the market. It employed 1,560 workers whose average salary was HRK 5,700.

The Pan-Pek company followed, with HRK 256.1 million in revenues and 681 workers. The third-ranked was "Zagrebačke pekarne", with HRK 220.3 million in revenues and 534 employees.

(€1 = HRK 7.511955 ) 

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