HEP – third best Croatian company in 2006

The best Croatian companies, as measured by the value added in 2006 and when consolidated results at holding or group level are considered, are HT, INA and HEP. The ranking is shown in the publication “Top 500”, which has been presented today. The publication was prepared by the business weakly Lider, the financial agency FINA and the business research institute ZAPI.

According to the preparers of the publication, value added is an indicator that best reflects the performance and competitive position of a company. Using the methodology accepted by financial and economic analysts worldwide, value added is calculated as a sum of profit before tax, net salaries, taxes and surtaxes on salaries, all contributions from and on salaries, student’s and author’s fees and temporary service contracts.

According to FINA’s data, which were used to do the ranking of top 500, HEP Group achieved the second highest income in 2006 and, according to the profit achieved, it takes the 11th place among Croatian companies.

Addressing the business people gathered at the presentation of “Top 500”, besides the representatives of the publisher and co-organizers, was the prime minister’s envoy, Deputy Prime Minister, Damir Polančec. He said that the results of the Croatian economy for last year show that Croatia is a stable, fast-growing, healthy economy in which the macroeconomic stability provides security for business operations . The most significant areas in which Croatia will increase its competitive advantage are transport and energy, he said, stressing in particular the need for ensuring Croatia’s energy self-sufficiency. Together with the completion of the gas pipeline Pula – Karlovac and the planned construction of the LNG terminal, Polančec announced a major project, laying of a submarine cable for electricity transmission toward Italy. Thanks to this project and others, Croatia could, according to him, from being an electricity importer become an exporter in five years.