Zagreb Holding ended 2019 with a positive financial result

May 29, 2020 - The Zagreb Holding Group ended 2019 with a positive financial result, as can be seen from the published annual reports and by positive indicators in the field of investments and social responsibility.

Profit before tax at the Group level is HRK 22.7 million, while at the company level Zagreb Holding Ltd. realized profit before tax is HRK 93 million.

The most significant investments were related to the implementation of the Decision on the manner of providing the public service of collection of mixed municipal waste and biodegradable municipal waste and services related to the public service in the City of Zagreb. Activities on business modernization also continued, as well as investments in new capacities, which ultimately resulted in an increase in revenues in almost all business segments. 

Most of the Group's services in the category are services of general economic interest and are not performed for profit, but to ensure the delivery of these services to end users in an efficient, economical and purposeful manner, at the lowest cost to customers. Therefore, the Group's activities are primarily focused on investments in the expansion and reconstruction of existing infrastructure, modernization of operations and improvement of customer relations, and the establishment of an efficient waste management system.

In 2019, a total of HRK 459.8 million of investments were realized at the level of the Zagreb Holding Group, ie HRK 35 million more than last year, and another HRK 84.7 million of investments in the construction of public facilities realized by the Group companies for the City of Zagreb and construction of the settlement Podbrežje. At the beginning of the year, the City of Hrvatski Leskovac, one of the most modern schools in Zagreb and Croatia and also the sixth elementary school built by Zagreb Holding, was handed over to the City for management.

The biggest investments, as every year, are in the water supply and drainage system. Investments in the development of the gas network also increased, amounting to HRK 85.3 million in 2019, and, among other things, 34 kilometers of a new distribution network were built. For the third year in a row, investments in the establishment of an efficient waste management system are growing, during which more than HRK 191 million was invested in equipment, machinery, vehicles and construction works. Last year, the system of separate waste collection was extended to bio-waste in family houses and apartment buildings, according to, among other things, the reports for 2019.

Financial reports for 2019