Business News

Net Profit of Slovenian Companies Drops by Two-Thirds in 2009

Ljubljana, 13 May (STA) - Slovenian companies recorded the worst business results in the last five years in 2009, with the total net profit representing only a third of that in 2008, suggest data released by the Agency for Public Legal Records and Related Services (AJPES).

Total revenues for last year stood at EUR 71.8bn, which is 15% less than in the year before. Revenues on non-EU markets were down by 25%, on EU markets by 18% and on the domestic market by 12%.

Profit for 2009 was reported by 32,487 companies or almost two-thirds of the total. They generated EUR 2.7bn in overall net profit, down 18% year-on-year.

Meanwhile, 19,125 companies (35%) finished with a net loss in the total amount of EUR 2.1bn, which is 35% more than in 2008.

The difference between net profit and net loss thus amounted to EUR 549.4m, only a third of the relevant amount in 2008. According to the AJPES, the biggest reasons for the decline is a drop in industrial output, imports and exports.

Companies which reported a net loss employed a total of 131,541 workers or more than a quarter of the workforce. Micro companies, representing 92% of all companies, reported a total net loss of EUR 85m.

Most of the total net profit was generated by companies in retail and maintenance, while the biggest net loss (EUR 230m) was posted by financial and insurance firms, but this is still 14% lower than in 2008.

Net added value per employee stood at EUR 34,168, down 5% compared to the year before.

Almost a half of the total added value and most of the net profit in 2009 was generated by large companies, which employ more than 40% of the Slovenian workforce.

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