The Croatian retail sector grew by 6.4% on an annual basis, ending 2016 with revenues of HRK 40.4 billion (€5.4 billion).
According to data from the Croatian firm Financial Agency (FINA), the sector achieved overall profits of HRK 433.0 million (€58.4 million), an increase of 45.0% compared to 2015, with 66.8% of the 3,010 companies in the sector seen as profitable.
Lidl Hrvatska led the pack, with revenue amounting to HRK 4 billion (€539.5 million) and accounting for 9.9% of the market. The German retailer was also the most profitable, ending the year with a profit of HRK 242.3 million (€32.7 million), compared to HRK 185.4 million (€25 million) in 2015.
The top 10 retailers in terms of revenue in 2016 were Plodine (HRK 3.9bn); Kaufland Hrvatska (HRK 3.3bn); Spar Hrvatska (HRK 2.5bn); Tommy (HRK 2.3bn); Billa (HRK 1.7bn); Studenac (HRK 1.4bn); Pevec (HRK 1.4bn); KTC (HRK 1.3bn); and Muller Trgovina Zagreb (HRK 1.1bn).
In profit terms, Tommy was second (HRK 113mn); followed by Plodine (HRK 76.1mn); Muller Trgovina Zagreb (HRK 66.8mn); Studenac (HRK 60.4mn); and NTL (HRK 27.3mn).
Croatia’s leading retailer Konzum, part of the indebted conglomerate Agrokor, was not included in the ranking because it has not submitted a financial report to FINA. According to a report released for public disclosure, Konzum’s revenues surpassed HRK 10 billion (€1.3 billion) in the reference period.
Besides the in-depth restructuring activities undertaken by Agrokor, another recent major development in the Croatian grocery retail market was the acquisition of Billa by Spar Hrvatska which began in 2016 and was completed in August 2017.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine
