IT industry is the leader of Slovak economy for profitability

Analysis finds food processing, entertainment and relaxation, accommodation and gastronomy at the opposite end of the chart.

Illustrative stock photoIllustrative stock photo (Source: Sme)

One euro of revenues and turnover in the information technology industry produces 6.5 cents of net profit, making this industry an absolute leader of the national economy. Next comes the pharmaceutical industry where one euro produces 5.28 cents of net profits, the Sme daily wrote on May 17. It cited the analysis of the Indexpodnikateľa.sk website which from a sample of 10,000 legal subjects, evaluated the data on the profits of Slovak companies in 2016.

The third place went to planning and engineering activities where €1 of turnover and revenues produces 4.95 cents of profit.

The last in the chart from the point of view of profitability of revenues are the branches of food processing, entertainment and relaxation, accommodation and gastronomy – where up to 50 percent of firms produce almost zero profit.

Indexpodnikateľa.sk also scrutinised profits after taxation in various industries for the past year. The analysis implies that the cap of €10,000 of profit after taxation was exceeded only by two industries – pharmaceutical and energetics, with a profit of €12,239 and €12,372, respectively.

"Also mechanical engineering and the automotive industry have achieved considerably higher profits compared to others,” the website wrote, according to Sme. “Conversely, accommodation and gastronomy fared worst, while the value of the median profit after taxation is even negative in these areas. This means that half of all companies in these categories have an even greater loss than €339,“ the website wrote.

The Index Podnikateľa project aims at supporting and developing a transparent business environment in Slovakia.

Get daily Slovak news directly to your inbox

Theme: Economics

Read more articles by the topic

Top stories

Grandson turns his blue-haired grandma into an Instagram sensation

President Zuzana Čaputová is one of her nearly 13,000 followers.

Photographer Marek Pupák takes pictures of his grandmother. He also created the blue.grandma profile on Instagram, where he posts the photos of her.

Roundup: Shoe boxes turn into Christmas gift boxes to cheer up lonely older people

People can fill and hand in their own box until December 6.

The White Night Festival takes place in Bratislava during Christmas.

Some schools will open on December 7

Matovič pushed through testing at schools, government is launching a pilot project this weekend.

PM Igor Matovič (front) and Education Minister Branislav Gröhling  (back)

Freed in the Kuciak murder case, guilty of another murder

The Specialised Criminal Court sends Alena Zsuzsová to prison for ordering the murder of former Hurbanovo mayor. She appealed against the verdict, insists she is innocent.

Alena Zsuzsová is escorted to the courtroom.