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Slovenian businesses record higher profit in 2023

Ljubljana, 09 May (STA) - Slovenian companies created EUR 6.7 billion in net profit in 2023, up 10% in nominal terms and 2% in real terms from 2022. Net value added per employee also grew, while revenue stayed level in nominal terms and decreased by 7% in real terms, shows data by AJPES, the agency for public legal records.

Inflation had a somewhat smaller impact on real values than in 2022 as average yearly inflation in 2023 amounted to 7.4%, while in 2022 it was at 8.8%.

The companies recorded a revenue of EUR 146.5 billion, level in nominal terms compared to 2022 and down by 7% in real terms.

The growth in net profit can be accounted to large and micro companies, while small and medium-sized enterprises recorded a lower profit, shows data by AJPES, collected from annual reports of 71,638 companies.

"We were positively surprised by the results," said head of the statistics and information sector at AJPES Martina Resnik.

Results have also been surprising in the past few years, during the Covid-19 pandemic and the energy crisis, which shows the resilience of the economy, said AJPES acting director Zdenka Kajdiž.

Large enterprises created EUR 3.35 billion in net profit, up 19% in nominal terms from 2022. Net profit of medium enterprises dropped by 2% nominally to EUR 1.59 billion and of small enterprises by 4% to EUR 1.08 billion. Micro companies recorded a net profit of EUR 689 million, up 29% from 2022.

The companies in the Central Slovenia region created the most profit, followed by the Savinja and Podravje regions to the west. Profit was lowest in the northern Koroška region. The Posavje region recorded the highest growth as profit more than doubled.

Manufacturing recorded the highest profit at EUR 2.01 billion but it was down by 12% in nominal terms. Revenue stayed level at EUR 42.1 billion, while net added value per employee grew by 5% to EUR 59,441.

In retail net profit grew by 3% to EUR 1.27 billion, while revenue dropped by 3% to EUR 46.4 billion. Net added value per employee grew by 11% to EUR 63,241.

Construction recorded the largest growth of net profit, by 33% to EUR 386 million. Revenue increased by 19% to EUR 9 billion, while net value added per employee grew by 21% to EUR 45,629.

After a net loss of nearly EUR 200 million in 2022, the electricity, gas and steam supply sector recorded a net profit of EUR 522 million in 2023. Revenue dropped by 12% to EUR 12.8 billion. The sector recorded the highest net added value per employee at EUR 188,318, up by 136%.

Companies created EUR 59.8 billion of total revenue in foreign markets, down by 6% compared to 2022. In the EU markets sales revenue fell by 5% to EUR 45.3 billion, while in markets outside the EU it dropped by 10% to EUR 14.4 billion.

The costs of goods and service were 3% lower than in 2022 with energy costs decreasing by 1% and wage costs increasing by 12%.

The average monthly salary was EUR 2,218, up by 9% in nominal terms and by 1% in real terms. Companies employed 547,873 persons in 2023, up by 3% compared to 2022.

Sole traders recorded EUR 510.7 million in net income, up by 20% compared to 2022. Revenue grew by 11% to EUR 6.5 billion, of which EUR 742 million was made in foreign markets. Net added value per sole trader and their staff increased by 13% to EUR 20,244.

In 2023 there were fewer companies with outstanding liabilities and the value of the liabilities also decreased compared to the year before. Most insolvent companies were in construction and retail. The number of insolvency proceedings also continued to decrease, and fell by 7% compared to 2022.

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