Croatia: Brewers see consolidated profit jump 26% last year
Beer producers in Croatia saw their consolidated profit jump 26% to 345 million kuna ($52.2 million/46.7 million euro) last year, Croatia's financial agency Fina said.
The brewers' total revenue was flattish at 2.5 billion kuna, while total expenditures dropped 4.1% to 2.1 billion kuna in 2018, Fina said in a statement last week.
Croatia's beer exports rose 6.3% to 312.6 million kuna, while imports increased 6.4% to 394.5 million kuna last year.
Zagrebacka Pivovara, owned by U.S.-based Molson Coors, generated the largest revenue in the sector of 1.1 billion kuna and was Croatia's biggest beer exporter last year. The company made a profit of 233.2 million kuna. It employed 560 workers at the end of last year.
Heineken Croatia followed with revenues of 723.4 million kuna and a 105.9 million kuna profit. It employed 321 workers at the end of 2018.
Third was Carlsberg Croatia, generating 313.3 million kuna in revenue and a 4.9 million kuna profit.
A total of 88 companies were registered as beer producers in Croatia last year, employing 1,622 people.
Of the total, 41 companies operated at a profit, while the remaining 47 reported a loss.
Twelve companies were engaged in beer exports, while 20 were active as importers.
The top 10 largest brewers in terms of revenue generated 97% of the total revenue in the sector, Fina said.
Pivovara Medvedgrad was the largest producer of craft beer in the Adriatic country, reporting 17.3 million kuna in revenue in 2018.
It was followed by Zmajska Pivovara with 8.6 million kuna revenue and Nova Runda with 4.8 million kuna.
Fina noted that the production of craft beer in Croatia has been on the rise in the past years
The average monthly wage in Croatia's beer industry rose 3% to 9,824 kuna last year.
(1 euro = 7.39142 kuna)
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