Business News

Net profit generated by companies in Slovenia up 10% in 2019

Ljubljana, 22 June (STA) - Companies in Slovenia generated EUR 4.625 billion in net profit last year, a 10% increase on 2018. Revenue was up 4% to EUR 103.892 billion, the Agency for Legal Records (AJPES) reported on Monday. The agency assessed the economy is prepared better for the crisis than was the case slightly over 10 years ago.

"The Slovenian economy also preformed well last year, even more so than the year before, but growth was slower," the head of the statistics department at AJPES Marjan Širaj told the press in Ljubljana.

The number of employed persons increased by 5% to 519,505, as did added value per employee to EUR 46,752. Added value continues to grow too slowly to achieve the desired EUR 60,000 and to catch up with the most developed EU members, he added.

Revenue generated abroad was up by 7% to EUR 43.05 billion. Revenue from markets within the EU increased by 6%, and that generated in third countries by 12%.

The revenue does not include operations by banks, insurance companies, companies that are in receivership or being liquidated, as well as not of state asset custodian SSH, the Pension Fund Management KAD or of the Bank Assets Management Company.

Sole proprietors generated EUR 379.9 million in net entrepreneurial income, a 10% increase on the year before. Revenue rose by 8% to EUR 5.28 billion.

Cooperatives recorded EUR 2.4 million in net profit. Revenue amounted to EUR 766 million and expenditure to EUR 763 million.

"Data on the operations of companies, entrepreneurs and cooperatives for 2019 have shown that the Slovenian economy is prepared better for the crisis than this was the case slightly over 10 years ago," Širaj said. Businesses rely now more on their own funding sources and less on loans.

"The financial, banking system is in better shape as well, so it is in a position to service the economy. Loans are more accessible and also cheaper than they were 10 years ago. Moreover, the Slovenian economic policy response to the coronavirus situation and after it was fast and extensive in financial terms for the economy too," he added.

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