Tuesday, 21 September 2021

Volume of Construction Work Grows For 14th Straight Month Y-O-Y

ZAGREB, 21 Sept, 2021 - The volume of construction work in July 2021 was 6.5% higher than in July 2020, however it fell by 4.9% compared to June 2021, the State Bureau of Statistics (DZS) reported on Tuesday.

July was the 14th month in a row for the volume of construction work to increase on the year.

DZS data indicate that the volume of construction work done on buildings in July was 5.3% higher y-o-y whereas the volume of other structures increased by 8.1%.

Compared to June the volume of construction work contracted by 6.2% on buildings and by 3% on other structures.

In July, 61% of working hours on construction sites were conducted on new structures while 39% were for reconstruction, repairs and maintenance.

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

Wednesday, 15 September 2021

INA Considering HRK 2 bn Bond Issue

ZAGREB, 15 Sept, 2021 - The INA oil company said on Wednesday it was considering issuing bonds on the domestic capital market in the nominal amount of HRK 2 billion maximum, with one-off principal maturity after five years maximum.

The Board today decided to issue the bonds and list them on the Zagreb Stock Exchange.

The issuing and the listing will be done provided that all regulatory permits are obtained in line with regulations and subject to acceptable market conditions.

INA hired Erste & Steiermärkische Bank, Privredna Banka Zagreb and Raiffeisenbank Austria as the issue agent.

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Wednesday, 15 September 2021

Zagreb Stock Exchange Indices Drop Slightly

ZAGREB, 15 Sept, 2021 - The main Zagreb Stock Exchange indices fell mildly on Wednesday amid a modest turnover.

The Crobex weakened by 0.12% to 1,969 points while the Crobex10 dropped by 0.10% to 1,203 points.

The transport sector index fell the most among sector indices (-1.86%) while the construction index registered the highest increase (+0.18%).

Regular turnover amounted to a mere HRK 4.9 million or about 3.7 million less than the day before.

The only stock to cross the million kuna mark was the HT telecommunications company generating a turnover of HRK 1.45 million. The prices of HT shares dropped by 0.26% and closed at HRK 189.50.

Thirty-seven stocks traded today, with 12 gaining in price, 15 losing, and 10 staying the same.

(€1 = HRK 7.474887)

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

Wednesday, 15 September 2021

Croatia Among EU States With Biggest Industrial Output Drops in July Month-Over-Month

ZAGREB, 15 Sept, 2021 - Europe's industrial production recovered in July 2021 but Croatia was among the EU countries with the largest monthly decreases, an Eurostat report showed on Wednesday.

In July 2021, the seasonally adjusted industrial production rose by 1.5% in the euro area and by 1.4% in the EU, compared with June 2021, when industrial production fell by 0.1% in the euro area and remained stable in the EU.

In the euro area in July 2021, compared with June 2021, production of non-durable consumer goods rose by 3.5%, while in the EU it rose by 2.8%.

Capital goods went up by 2.7% in the euro area and by 2.4% in the EU, and intermediate goods by 0.4% in the euro area and by 0.5% in the EU, while energy production was stable in the EU and fell by 0.6% in the euro area.

Among member states for which data are available, the highest monthly increases were registered in Ireland (+7.8%), Belgium (+5%) and Portugal (+3.5%). The largest decreases were observed in Lithuania (-2.0%), Slovenia (-1.8%) and Croatia (-1.6%).

In July 2021 compared with July 2020, industrial production increased by 7.7% in the euro area and by 8.3% in the EU.

In the euro area in July 2021, compared with July 2020, production of intermediate goods rose by 11.2%, nondurable consumer goods by 10.1%, durable consumer goods by 9.8%, capital goods by 5.9% and energy by 1%.

In the EU, production of intermediate goods rose by 11.8%, non-durable consumer goods by 9.4%, durable consumer goods by 8.9%, capital goods by 6.3% and energy by 2.7%. 

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Tuesday, 14 September 2021

Zagreb Stock Exchange Indices Rise; Focus on Podravka, Adris Shares

ZAGREB, 14 Sept, 2021 - The main Zagreb Stock Exchange (ZSE) indices went up on Tuesday, the Crobex by 0.15% to 1,971 points and the Crobex10 by 0.16% to 1,204 points, with regular turnover reaching HRK 8.6 million.

The most traded stock was the Podravka food company, turning over a little more than HRK 3 million. It closed at HRK 596 per share, down 0.33%.

The ordinary share of the Adris tourism and insurance group turned over HRK 2.7 million, closing at HRK 470 (+2.17%), while its preferred share turned over HRK 1.09 million, closing at HRK 417 (+0.48%).

Thirty-six stocks traded today, with 14 gaining in price, 11 losing, and 11 staying the same.

(€1 = HRK 7.483597)

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

Friday, 10 September 2021

DroneDays 2021: All About Drones in Biograd na Moru

September 11, 2021 - The DroneDays 2021 event will turn Biograd na Moru near the popular city of Zadar into an aerial robotics mecca from October 4-5.

Airplanes are fun, but unless yo're a pilot, you can only passively enjoy the stunning aerial view as you travel the beaten path managed by the captain in a cockpit. No control, no say on the height or the direction of the above ground observing experience.

Although providing that exciting sense of freedom of flying on a screen only, drones are much better options for those who want to take control of an aerial space. For those who want to learn more about drones, October 4-5 needs to be marked in the diary for DroneDays 2021, a Croatian conference on all things related to drones.

''DroneDays 2021 is a two-day workshop focused on unmanned aerial vehicles, which will be held on 4th and 5th October 2021 in Biograd na Moru, Croatia. The programme consists of keynote lectures, an exhibition area, and is focused on unmanned aerial vehicle applications and end-user industries. It will serve as a meeting place for experts from the industry and academia, end-users, as well as regulatory bodies from the region,'' reads the official website of the event.

DroneDays 2021 will be held at the Ilirija Resort at Biograd na Moru, and 14 speakers have confirmed their arrival at the event at the time of writing this article, with more invited. The confirmed names include drone experts from across Croatia and abroad, from academics from the Faculty of Electrical Engineering and Computing (FER) to foreign universities and even NATO.

DroneDays 2021 promises an exciting two days for drone lovers in a more theoretical approach with conferences hosting presentations from keynote industry leaders to more practical opportunities. These include exhibitions (open for the public) where visitors can have face-to-face meetings with leading industrial companies from across the region, showcasing their latest products and services. In addition, there will be a flying area where you can participate in live demonstrations of the latest technological achievements in aerial robotics, and there is also a B2B event where you can meet new partners who share your love for aerial robotics.

Much like drones, the event isn't free. Would-be participants must register on the website and buy a 10 euro ticket. That ticket includes two-day access to the whole programme as well as accreditation, a registration package, workshop materials, and coffee breaks.

With the discussion of order and freedom at large, the debates concerning the legal frame of operating drones in Croatia may well be the most interesting topics of this year's edition of DroneDays.

As TCN previously reported, drone regulations in Croatia have two levels of authority, one that is national and the other concerning EU Drone Regulation that came into force back in 2020.

After the conference in Biograd na Moru, why not hop to nearby Zadar? Learn more in our TC guide.

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

Wednesday, 8 September 2021

Zagreb Stock Exchange: Indices Drop Amid Modest Trading

ZAGREB, 8 Sept, 2021 - The main Zagreb Stock Exchange indices weakened on Wednesday amid a very modest turnover, with the most traded stock being that of the Plava Laguna hotel chain.

he Crobex fell by 0.41% to 1,954 points while the Crobex10 fell by 0.3% to 1,200 points.

The construction sector index recorded the highest increase among sector indices, of 1.91%, while the food sector index decreased the most, by 0.22%.

Regular turnover amounted to HRK 4.6 million or about 600,000 less than on Tuesday.

Not one stock crossed the million kuna mark in turnover.

The most liquid stock was the Plava Laguna hotel company with a turnover of HRK 567,000. The price of its shares remained at HRK 1,620.

Forty-one stocks traded today, with 10 gaining in price and 20 falling, while 11 remained stable.

(€1 = HRK 7.484807)

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

Tuesday, 7 September 2021

Zagreb Stock Exchange Indices Almost Unchanged

ZAGREB, 7 Sept, 2021 - The Zagreb Stock Exchange (ZSE) Crobex index increased by 0.16% to 1,962 points on Tuesday, while the Crobex10 weakened by 0.01% to 1,204 points.

Regular turnover was HRK 5 million.

The most traded stock was the Arena Hospitality Group, turning over HRK 993,000. It closed at HRK 322 per share, up 1.9%.

Thirty-seven stocks traded today, with 14 gaining in price and 12 losing, while 11 were stable.

(€1 = HRK 7.492048)

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

Monday, 6 September 2021

New Croatian Energy Label: More Transparence for Light Source Efficiency

September 6, 2021 - A new Croatian energy label with more arranged levels of energetic efficiency and a QR code that connects buyers directly to the European Commission database offers more transparency to Croatian buyers.

Noted for promoting energy efficiency, particularly within the REPLACE Project, the Energy Institute Hrvoje Požar (EIHP) is also involved in the Label 2020 project. As EIHP reported, since September 1, 2021, a new energy label has been providing more information on the energy efficiency of light source products.

The Label 2020 website explains that this new Croatian energy label developed better information for customers to educate them further on product efficiency.

This includes levels A-G (With A being the most energy efficient and G being the least efficient), with QR codes on the top of the label that provide a direct link to the European Commission's database for transparency and easier market control from the national government. In addition, energy spending is portrayed in a more express way in the middle of the energy label, while the bottom of the label has various pictograms which provide information on the selected features of the product.

''Several pictograms are the same as in the old label, some have been reviewed, and others are completely new,'' pointed out Label 2020.

''The EU energy tag for devices has remained a crucial starter for innovation and the market development of energy efficient technologies over the last 20 years. The energy label plays a two-part role in innovation stimulation for manufacturers and demanding efficient devices for buyers,'' explained Label 2020.

The new energy Croatian label aims to support all branches of the energy sale on the consumption market. From consumers and (professional) buyers through an information campaign, services and tools, to distributers (with the implementation of the label at the stores and for online purchase), manufacturers (by delivering the correct labels and product info), as well as for others.

With the new Croatian energy label having been a staple for the past 20 years, the change was triggered by the previous A level having three sublevels which opens doors for the incorrect advertising of products that weren't really energy efficient.

''Therefore, the European Union changed and optimised the label in line with the needs of the users. The new label was presented to buyers in physical stores and online on March 1, 2021, and includes energy classes from A to G. These scales will be updated regularly,'' said the website.

With the aforementioned QR code link being the strongest and most innovative demonstration of transparency of the updated system, the sparks of electricity will hopefully be greener than last month as Croatian buyers now have more options to make an informed purchase.

Learn more about Croatian inventions & discoveries: from Tesla to Rimac on our TC page.

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

Tuesday, 31 August 2021

Two Retail Chains Top Ranking of Businesses With Highest Revenue in Dalmatia

ZAGREB, 31 Aug, 2021 - An analysis of the Croatian Finance Agency (Fina) shows that in 2020, the businesses registered in Split-Dalmatia County had a consolidated net profit of HRK 571.3 million, down by 27% compared to 2019.

In terms of the total revenue in 2020, the Split-based Tommy retail chain topped the ranking with HRK 3.2 billion, and the Omiš-based Stuidenac ranked second, HRK 1.9 billion, and they were followed by the Vrgorac-based Pivac meat processing company, HRK 1.6 billion.

Last year, there were 15,308 businesses with their headquarters in Split-Dalmatia County.

Highest profit in 2020 made by sports betting company

Of them, the company with the highest profit was the Dugopolje-headquartered Hattrick-PSK bookmaker, HRK 242.1 million.

It was followed by the two shipbuilding companies, Brodotrogir (HRK 152.9 million) and Brodosplit (HRK 146.2 million)

Considering the number of employees on the payrolls of all those 15,308 businesses, the employed labour force was downsized by 2.8% from 2019 to reach 79,085 in 2020.

Tommy was the biggest employer, with nearly 3,000 people on its payroll. Studenac employed 2,456  workers in 2020.

According to Fina's data, last year, the total revenues earned by the businesses in this southern county came to HRK 48.5 billion, down by 8.4%, their expenditures were cut by 7.8% to HRK 47.5 billion.

(€1 = HRK 7.5)

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