Business News

Over Third of Businesses in the Red in 2012

Ljubljana, 15 May (STA) - Slovenian companies saw a considerable deterioration in their operating results last year. Over 20,700 or more than one in three closed the year in the red to generate a combined net loss of EUR 2.3bn, 39% more than in 2011, data from the Public Agency for Legal Records and Related Services (AJPES) show.

A net profit was generated by 36,270 or 60% of all companies. Their combined net earnings increased by 2% on 2011 to EUR 2.6bn.

This means that Slovenian businesses posted an overall net profit, which however contracted to merely a third of the net profit generated in 2011.

The contraction is largely owing to the companies that were registered before 1991. The loss-making companies employed more than a fourth of all workers.

The bulk of the loss was posted by companies in finance and insurance industry, followed by real estate, hospitality sector and construction.

Profit making companies were mainly those in manufacturing, energy, gas and steam supply, transport and storage.

The figures reflect a contraction of the economic activity, write-offs and write-downs of assets at home, the Chamber of Commerce and Industry (GZS) says, noting that only exports improve results.

AJPES's data are based on annual reports from 59,726 companies submitted by the end of March.

Slovenian companies generated EUR 78.8bn in overall revenue last year, 2% more than the year before. Revenue on the domestic market rose by 0.3%, those generated in the EU by 7% and outside the EU by 10%.

But even after four years of growth, company revenues are still more than 7% below the pre-crisis levels, according to GZS. Revenue generated on the domestic market is as much as 12.7% below 2008 levels.

Last year saw the number of employees increase by 0.1% to 435,059, while the value added per employee fell by 1% to 38,006 euros. Average pay per employee increased by 0.5% nominally to EUR 1,436 gross.

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