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Stats Office: Corporate profits in 2012 Q4 were down 35.1 percent year-on-year

The profits of financial and non-financial corporations operating in Slovakia went down by 35.1 percent year-on-year in the final quarter of 2012 to €1.668 billion, the Slovak Statistics Office (ŠÚ) reported on Wednesday, March 6.

The profits of financial and non-financial corporations operating in Slovakia went down by 35.1 percent year-on-year in the final quarter of 2012 to €1.668 billion, the Slovak Statistics Office (ŠÚ) reported on Wednesday, March 6.

Non-financial corporations recorded profits worth a total of €1.687 billion in the fourth quarter, which represented a 37.6-percent drop year-on-year. Financial corporations made an aggregate loss of €19.1 million, although this was 85.6 percent lower than the losses recorded in the same period of 2011. In 2012 as a whole, the profits of non-financial and financial corporations went down by 2.7 percent year-on-year to €10.471 billion, the TASR newswire reported, quoting the ŠÚ.

Also in 2012 as a whole, the profits of non-financial corporations went down by 8.1 percent when compared to 2011 to €8.857 billion. The drop was mainly due to lower profits in electricity and gas supply (a drop of 20.1 percent), in the construction industry (a drop of 28.5 percent), in activities associated with real estate, in expert, scientific and technical activities, in administrative and support services (all down 11.6 percent), and in commerce (down 4.7 percent). Financial corporations ended €1.1614 billion in the black in 2012. Their year-on-year profits increase, representing 43.5 percent, was influenced by profits in all three types of financial institutions. Profits posted by monetary financial institutions accounted for €774.9 million; insurance corporations and pension-saving funds showed a profit of €479.5 million, while other financial intermediaries recorded profits of €360 million.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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