Tuesday, 3 August 2021

Zagreb Stock Exchange Indices Up Slightly

ZAGREB, 3 Aug, 2021 - The main Zagreb Stock Exchange (ZSE) rose on Tuesday for the second consecutive trading day, with the Crobex increasing by 0.21% to 1,953 points and the Crobex10 by 0.38% to 1,205 points.

Turnover at the close of the trading session was HRK 4.26 million, roughly half as much as on Monday, and none of the stocks passed the turnover mark of one million kuna.

The highest turnover, of HRK 801,000, was generated by the stock of the Valamar Riviera hotel company. It closed at HRK 30 per share, up 1.69% over Monday.

A total of 37 stocks traded today, with 12 of them registering price increases, 12 recording price decreases and 13 stagnating in price.

(€1 = HRK 7.498284)

For more about business in Croatia, follow TCN's dedicated page.

Tuesday, 3 August 2021

Total Household Loans Reach HRK 138,9 Bn in June

ZAGREB, 3 Aug (Hina) - Total household loans in Croatia reached HRK 138.9 billion at the end of June 2021, increasing by HRK 4.2 billion from June 2020, according to the data provided by the Croatian National Bank (HNB).

The annual nominal household loan growth rate was 3.2%, picking up from 2.7% in May 2021, Raiffeisen Bank (RBA) said in its analysis of the central bank's data.

The share of kuna-denominated loans in total loans was 55%, the same as the month before.

Household credit claims increased by 1.9% or HRK 2.7 billion since the start of the year.

The annual household loan growth rate increased from 3.5% to 4%, with the growth of housing loans picking up from 9.7% to 10.1%. 

(€1 = HRK 7.5)

For more about business in Croatia, follow TCN's dedicated page

Wednesday, 28 July 2021

Zagreb Stock Exchange Indices Go in Opposite Directions

ZAGREB, 28 July, 2021 - The Zagreb Stock Exchange (ZSE) indices on Wednesday changed slightly, going in opposite directions, while regular turnover was modest, however, overall liquidity was increased by the block trading in HT telecommunication company's shares, amounting to HRK 2.66 million.

The Crobex rose by 0.15% to close at 1,934.02 points while the Crobex10 dropped by 0.11% to 1,192.41 points.

Regular trading amounted to HRK 4.4 million, almost three million less than on Tuesday.

The total liquidity was increased by the block trading in HT shares in the amount of HRK 2.66 million, at a price of HRK 190 per share.

HT shares also generated a turnover of some HRK 203,000 in regular trading, closing at HRK 190.50 per share.

In regular trading, none of the stocks crossed the million kuna mark, the closest to it being Ericsson Nikola Tesla with a turnover of HRK 916,800. Its price rose by 0.30% to HRK 1,660.

Thirty-four stocks traded today, with 19 of them registering price increases, 9 recording price decreases and 6 remaining stable in price.

(€1 = HRK 7.523)

For more about business in Croatia, follow TCN's dedicated page.

Wednesday, 28 July 2021

Confectioner Kraš Reports 64% Increase in H1 Profit

ZAGREB, 28 July, 2021 - The Kraš confectionery group generated a net profit of HRK 21.9 million in the first half of 2021, an increase of HRK 8.6 million or 64.2% over the same period in 2020, according to its financial statement released on Wednesday.

Consolidated revenue reached HRK 488.2 million, up by HRK 30.4 million or 6.6%, with sales revenue totalling HRK 481.4 million. Sales revenue increased by 15.8% to HRK 257.7 million on the domestic market and by 9.1% to HRK 220 million on the foreign markets.

Expenditure increased by 4.2% to HRK 461.1 million. 

(€1 = HRK 7.523368)

For more about business in Croatia, follow TCN's dedicated page.

Tuesday, 27 July 2021

Zagreb Stock Exchange Indices Up Slightly

ZAGREB, 27 July, 2021 - The main Zagreb Stock Exchange (ZSE) indices rose slightly on Tuesday, with the Crobex increasing by 0.07% to 1,931.03 points and the Crobex10 by 0.08% to 1,193.73 points.

Turnover at the close of the trading session was HRK 7.3 million, about 2.8 million higher than on Monday.

The rise in the turnover was mostly driven by the stock of telecommunications equipment manufacturer Ericsson Nikola Tesla telecommunications, which turned over HRK 3.04 million. It closed at HRK 1,655 per share, up by 2.48% from Monday. 

No other stock passed the turnover mark of one million kuna.

A total of 34 stocks traded today, with 13 of them registering price increases, 11 recording price decreases and 10 remaining stable in price.

(€1 = HRK 7.528218)

For more about business in Croatia, follow TCN's dedicated page.

Tuesday, 27 July 2021

Tax Relief Proposals by Hospitality Sector Reps not Accepted

ZAGREB, 27 July, 2021 - Finance Minister Zdravko Marić on Tuesday did not accept proposals for a lower VAT rate on beverages and to treat labour costs as a tax deduction, while a representative of restaurant and bar owners said they would have to fend for themselves the best way they can regarding future challenges.

"My message to all restaurant and bar owners in the country, notably those who run bars, is that a very demanding period is ahead of us and that they will have to seek new loans and funding, despite the fact that we had yet another constructive meeting with the finance minister today. We can hope that in a couple of years we will have better working conditions because now that is not the case and we have not come across any understanding in regard to our proposals," Jelena Tabak, who heads the NUU association of restaurateurs, said after the meeting.

Marić recalled that a lower VAT rate was already in place in the tourism sector for accommodation, food and for the serving of food and that beverages were the only products for which VAT had not been reduced.

Commenting on the proposal to exclude labour costs from the base amount for the calculation of the VAT rate in the hospitality sector, the minister said that neither Croatia's nor the EU's tax systems recognised such a measure.

"In terms of taxation, labour costs are indeed recognised costs but in systems in which they should be recognised - the income and profit tax systems. We cannot mix direct taxes with indirect taxes such as VAT," he explained.

Marić recalled the government's measures to help the business sector, from lower taxes to the cancellation of individual contributions, as well as expanding the scope of nontaxable income, which, he said, had resulted in a rise in employment and wages, as evidenced by statistical data.

He recalled the government's job-keeping measures and coverage of fixed costs in the hospitality sector, stressing that data on fiscalisation showed that the hospitality sector had solid results and that the real peak of the tourist season was yet to come.

Dražen Biljan of the bar owners' association of the NUU Zagreb branch said that they were not happy that their proposals were not accepted and that lowering VAT on drinks would not cost the state too much, around HRK 400 million. It would, however, mean a lot for restaurant and bar owners, he said.

For more about politics in Croatia, follow TCN's dedicated page.

Tuesday, 27 July 2021

Contracts For Higher Energy Efficiency in Manufacturing Industries Signed

ZAGREB, 27 July, 2021 - Economy Ministry officials on Tuesday presented contracts awarded as part of the HRK 326.3 million public call "Increasing Energy Efficiency and the Use of Renewables in Manufacturing Industries", with the total value of the projects to be implemented standing at HRK 672 million.

340 businesses applied to the call, and 28 - five micro and small businesses, six medium-size businesses and 17 big companies - were awarded money from the EU Competitiveness and Cohesion Fund.

Economy and Sustainable Development Minister Tomislav Ćorić said he expected the companies that were given grants to increase their energy efficiency as well as competitiveness as a result of lower energy consumption and increased production efficiency.

He noted that significant funds were envisaged for that purpose also under the National Recovery and Resilience Plan and that domestic businesses could expect new calls for applications by the end of this year and the beginning of 2022.

The approved grants must be invested in the next one to two years.

As a small, open economy, in the previous decades Croatia mostly exploited its development capacity in the services sector, including tourism, while now national plans and strategies should put special emphasis on manufacturing industries so that the country can catch up with EU standards, Ćorić said, adding that domestic producers could impact export as one of the key variables of the national economy.

"There will be more calls like this one in the period to come," he said.

For more about ecology in Croatia, follow TCN's dedicated page.

Tuesday, 27 July 2021

Croatia's Ericsson Nikola Tesla's Net Profit up in H1

ZAGREB, 27 July, 2021 - In H1 2021, Croatian telecommunication equipment manufacturer Ericsson Nikola Tesla generated a net profit of HRK 101.4 million, up 190% on the year, the ICT company said in a press release on Tuesday.

The company's gross profit amounts to HRK 154.3 billion, up 105.1% on the year.

The company's sales revenues rose by 5% to HRK 1.01 billion in the first six months of 2021. Of the total sales revenues, 44.1% was generated on the domestic market, services to parent Ericsson accounted for 44.9%, while other export markets contributed 11%.

In the said period, sales revenues on the domestic market amounted to HRK 447 million, up 6.2%, while sales revenues on foreign markets (without services to parent Ericsson) increased by 5.7% to HRK 111.5 million.

(€1 = HRK 7.5)

For more about business in Croatia, follow TCN's dedicated page.

Wednesday, 21 July 2021

Zagreb Stock Exchange Indices Weaken

ZAGREB, 21 July, 2021 - The Zagreb Stock Exchange (ZSE) indices dropped again on Wednesday after going up on Tuesday.

The Crobex decreased by 0.29% to 1,918 points, while the Crobex10 went up by a mere 0.06% to 1,185 points.

Regular turnover amounted to HRK 3.7 million, or HRK 1.4 million less than on Tuesday.

No stock crossed the million kuna mark and the highest turnover, of nearly HRK 879,000, was generated by the stock of the HT telecommunications company. The price of its shares went up by 1.85% to HRK 27.5.

A total of 33 stocks traded today, with 14 of them registering share price increases, 11 recording share price decreases and eight remaining stable in price.

(€1 = HRK 7.494568 )

For more about business in Croatia, follow TCN's dedicated page.

Wednesday, 21 July 2021

Croatian Bureau of Statistics (DZS): Volume of Construction Work up 16% in May, Rising For 12 Months in Row

ZAGREB, 21 July, 2021 - The volume of construction work carried out in Croatia in May 2021 rose 15.9% compared with May 2020, and it fell by 0.1% compared with April 2021, according to data provided by the National Bureau of Statistics (DZS) on Wednesday.

May was the 12th consecutive month to see the rise in the volume of construction work on an annual level.

Year on year, the volume of construction work to buildings increased by 18% and the volume of construction work to other structures grew by 13%. Month on month, the volume of construction work to buildings fell by 0.3%, while the volume of construction work to other structures decreased by 0.9%.

For more about business in Croatia, follow TCN's dedicated page.

Page 2 of 13

Search