Wednesday, 9 March 2022

DZS: Croatia's Industrial Inventories Fall 6.4% Year-on-year, Rise 2.9% Month-on-month

ZAGREB, 9 March 2022 - The Croatia's industrial inventories at the end of January 2022 rose by 2.9% from the previous month and fell by 6.4% compared with January 2021, data from the National Bureau of Statistics (DZS) shows.

Broken down by main industrial groupings, inventories of capital goods increased the most month on month, by 12.4%. Stocks of of intermediate goods grew by 7.7%, and of non-durable consumer goods by 1.2%, while inventories of durable consumer goods by 0.7%.

On the other hand, inventories of energy dropped by 19.4% month on month.

Year-on-year, inventories of capital goods were cut by 40.6%, and of energy by 9.2%.

Inventories of durable consumer goods fell by 5.2% and of intermediate goods by 4.3%, the inventories of non-durable consumer goods dropped by 3.8%.

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Thursday, 24 February 2022

Atlantic Grupa Posts Record Results for 2021

ZAGREB, 24 Feb 2022 - Atlantic Grupa generated HRK 345.9 million net profit in 2021, which is 1.1% more than in 2020, while sales revenues reached HRK 5.7 billion, increasing by 8.6% from 2020 and by 9.3% from the pre-pandemic 2019, the retail group said in a financial statement on Thursday. 

Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 1.1% to HRK 724.4 million, and the same increase was recorded for net profit, which amounted to HRK 345.9 million.

“Last year, Atlantic Grupa showed a high level of stability, despite economic disruptions caused
by the prolonged COVID-19 pandemic and difficulties with global supply chains, and we have
concluded our jubilee 30th year of operation with the historically highest revenues," CEO Emil Tedeschi said in a comment on the results achieved.

All business segments recorded growth thanks to, among other things, significant marketing, and capital investments, a better epidemiological situation in all markets, and a significantly better tourist season in Croatia compared to 2020.

Among the group's markets, Croatia led with a growth of 12.8% and was followed by Bosnia and Herzegovina with 8.8% growth and Serbia with 8.3% growth.

Own brands accounted for 62.6% of total sales, principal brands for 28.1%, and Farmacia for 9.3%.

Last year, Atlantic Grupa continued the planned investments, notably in technology in Atlantic Štark, new forms of Cedevita packaging, and the new Argeta factory near Varaždin. The value of this project exceeded €50 million and was expected to create up to 150 new jobs

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Thursday, 30 December 2021

Croatia's Industrial Output Rises for 12 Months in Row

ZAGREB, 30 Dec 2021 - Croatia's industrial production grew in November 2021 by 3.7% compared to November 2020, thus rising for the 12th straight month, according to data provided by the national statistical office (DZS).

The 12-month rising streak indicates that Croatia's economy continues to bounce back from the corona crisis.

The 3.7% rate was higher than the rise of 2.7% in industrial production in October 2021 compared to October 2020. 

All five sectors saw growth this November, and the highest one, of 12.5%, was registered in capital goods production, and the lowest rate, 0.7%, was in the production of non-durable consumer goods.

This November, the industrial output shrank by 1.4% compared to October.

Croatia's industrial production in the first eleven months of 2021 increased 6.7% in comparison to the corresponding period in 2020.

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Thursday, 2 December 2021

Number of Croatian Industrial Workers Remains Unchanged

ZAGREB, 2 Dec 2021 - The number of Croatian industrial workers in October 2021 remained unchanged from the previous month and fell by 0.4% compared with October 2020, according to data from the National Bureau of Statistics (DZS).

Compared with September 2021, the largest decrease in the number of workers was recorded in the beverage manufacturing industry (-3.7%) and the largest increase in the manufacture of other transport equipment (+4.1%).

Compared with October 2020, the largest decline was registered in the mining support services sector (-16.0%) and the largest increase in other manufacturing (+6.3%).

In the year to October 2021, the total number of industrial workers was 0.7% lower than in the corresponding period of 2020, while at the same time labour productivity increased by 7.0%.

In October 2021, industrial production continued to rise for the 11th month in a row, increasing by 2.7% year on year, which the DZS said indicated continued recovery of production and the entire economy from the coronavirus crisis.

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Monday, 1 November 2021

Croatia's Industrial Turnover Up 22.5% y-o-y in August

ZAGREB, 1 Nov 2021 - Croatia's industrial turnover in August 2021 rose by 22.5% on the year and by 3.2% on the month, according to data by the Croatian Bureau of Statistics.

In August 2021, the seasonally adjusted industrial turnover increased by 22.3% on the domestic market and by 24.1% on the non-domestic market, compared to August 2020.

In terms of main industrial groupings, in August, the highest year-on-year increase, of 43%, was recorded in energy sales.

Sales of capital goods rose by 25.2%, intermediate goods by 22.1%, consumer non-durables by 18.7%, and consumer durables by 13.3%.

Industrial turnover has been growing on the year since the beginning of this year, with the exception of February, when it dropped by 7.7%. January saw the smallest increase, of 1.7%, while in March the increase was 11.7%, in April 40.6%, in May 36%, in June 20.8%, and in July 17.8%.

Industrial turnover in the first eight months went up by 17.4% year on year.

During the month, industrial turnover rose by 3.2% in August, increasing by 2.2% on the domestic market and by 1.5% on the non-domestic market.

In August, compared to July, total sales of capital goods increased by 5%, of consumer non-durables by 3.1%, and of intermediate goods by 2.8%, while total energy sales dropped by 21% and sales of consumer durable by 7.9%.

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Monday, 9 August 2021

Producer Prices of Industrial Products Up 7.9% in July

ZAGREB, 9 Aug 2021 - In July 2021, producer prices of industrial products increased by 7.9% compared to July 2020, which is their highest increase since April 2011, show data from the Croatian Bureau of Statistics.

Compared to June 2021, producer prices of industrial products were 1.3% up.

The jump in producer prices was to a large extent due to energy prices as, without their contribution, the increase in producer prices was 0.4% compared to June, and 2.3% compared to July 2020.

On the domestic market, producer prices increased by 1.5% compared to June, the highest monthly increase since December 2016, while producer prices on the foreign market were 1.1% up month-on-month and 6.9% year-on-year.

Month-on-month, producer prices of energy on the domestic market increased by 3.4%, prices of non-durable consumer goods by 0.7%, prices of intermediate goods by 0.5%, and prices of durable consumer goods by 0.3% while prices of capital goods remained stable.

As compared to June, producer prices increased the most in Mining and quarrying, 8.9%, followed by Manufacturing, 1.2%, Electricity, gas, steam, and air conditioning supply, 1%, and in Water supply; sewerage, waste management, and remediation activities, 0.1%.

Year on year, producer prices of industrial goods have been on the rise since February 2021 and growing constantly, with the rate exceeding 7% since May.

According to the main industrial groupings, year-on-year producer prices of energy on the domestic market grew the most, by 25.8%.

The current trends regarding producer prices and the strong contribution of energy have been reported in the EU as well as the USA, analysts of Raiffeisenbank Austria (RBA) have said, pointing to market factors such as a sudden recovery of demand and disruptions on the supply side as well as growing costs of commodity transport.

According to the national classification of activities, year-on-year producer prices grew the most in Mining and quarrying, by 129%.

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