Croatia: Croatian brewers consolidated profit falls 17.8% last year
The consolidated profit of beer producers in Croatia fell by 17.8% to 284.4 million kuna ($45 million/38 million euro) last year, Croatia's financial agency Fina said.
The brewers' total revenue decreased by 1.4% to 2.33 billion kuna, while total expenditures rose 2.1% to 1.98 billion kuna in 2019, Fina said in a statement earlier this week.
Croatia's beer exports fell 18.4% to 253 million kuna, while imports increased 7.0% to 414 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 234 million kuna. It employed 577 workers at the end of 2019.
Heineken Croatia followed with revenues of 673.3 million kuna and a 64 million kuna profit. It employed 326 workers at the end of 2019.
Third was Carlsberg Croatia with a revenue of 336.7 million kuna and a 5.3 million kuna profit.
A total of 92 companies were registered as beer producers in Croatia last year, employing 1,592 people. Of the total, 44 companies operated at a profit, while the remaining 48 reported a loss.
Ten companies were engaged in beer exports, while 26 were active as importers.
The top 10 largest brewers in terms of revenue generated 92% of the total revenue in the sector, Fina said.
Pivovara Medvedgrad was the largest producer of craft beer in the Adriatic country, reporting 19.4 million kuna in revenue in 2019. It was followed by Zmajska Pivovara with an 8.0 million kuna revenue and Agram Craft with 2.6 million kuna.
The production of craft beer in Croatia has been on the rise in the past years, Fina said.
The average monthly wage in Croatia's beer industry fell 3.5% to 9,596 kuna last year.
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