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Slovenia Business Week no. 21/2005: Overall Profits Exceed Loss for Third Year in a Row

The companies' total net profit for the year was SIT 391.4bn (EUR 1.63bn), or 33% more than the year before

The Slovenian economy ended the year 2004 in the black for the third year in a row, according to the Agency for Public Legal Records and Related Services (AJPES). The companies' total net profit for the year was SIT 391.4bn (EUR 1.63bn), or 33% more than the year before.

The AJPES report, presented on Wednesday, 18 May, includes data for 42,068 enterprises, excluding banks, insurance companies, the state-run Pension Fund Management (KAD) and Restitution Fund (SOD) and companies in liquidation or bankruptcy.

The included companies employed a total workforce of 468,052, or 2% more than in 2003, with their revenues up by 13% year-on-year to SIT 13,282.5bn (EUR 55.43bn).

Over 63% of the companies ended the year with a profit (a total of SIT 578.8bn/EUR 2.42bn), while the others posted a total loss of SIT 187.4bn (EUR 0.78bn).

According to the report, 9,875 companies last year generated revenues on foreign markets, and they posted on average better results than those doing business only on the domestic market. A total of 81% of exporters posted a net profit.

AJPES moreover notes that 96.4% of the companies qualify as small enterprises, with large and mid-sized enterprises accounting for only 1.8% each.

The most important sector in terms of net revenues and the number of employees was manufacturing, followed by trade, repair of motor vehicles and consumer goods, and business services.

In addition to the 42,068 companies, AJPES this year 2004 received annual reports from 55,197 sole proprietors who employed 58,908 workers. They generated SIT 1,016bn (EUR 4.2bn) in net sales revenues.

AJPES collects annual reports and publishes them on their web page, but it also checks the data, the agency's director Darinka Pozvek noted.

She said the agency's long-term objective was to provide all information on enterprises in one place, which is to contribute to faster access and reduce costs.

Source: Slovene Press Agency STA

Author: STA