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Better salaries for Petrokemija employees

After making a net profit of 150 million kuna during the first trimester of 2020, Petrokemija continued to make excellent earnings in the second trimester, making a net profit of 239 million kuna.

15.12.2020.

Kutina, December 2020

During the last biennium, Petrokemija has been involved in a continuing process of reorganization and optimization of the company’s business processes. The complexity of the company’s production, sales and distribution processes, as well as the presence of strong competition in international markets, necessitated the effort to identify the optimum business model that will be both flexible and resilient to external factors impacting the company business.

As the company necessarily relies on international movement of both people and commodities, the Petrokemija board of management made sure to identify the damaging potential of the Corona virus infection in a timely manner. The pandemic has never been out of control and the production has continued without hindrance. At the peak of the pandemic crisis, Petrokemija was employing new people and accelerating the process of digital transformation that would further reduce risk factors in company’s operation.

During the first trimester of 2020, Petrokemija had a net operating profit of 150 million HRK, and continued to perform well during the second trimester with a net operating profit of 239 million HRK.

Another important proof of success was the signing of an annex to the collective contract that would, after 12 years, secure better salaries for the employees and improve employee rights. By this improved contract, the salaries will grow at the rate of 5% through basic wage and additional payment, special vacation allowance and allowance for children’s gifts. The existing employee rights, with respect to vacation time and special working conditions at Petrokemija, have remained unchanged in the new contract.

“It is important to note that in this period, we also proved that Petrokemija is a strategically important company for Croatian economy. During this period, when many countries shut down their international borders, cut short the international supply chains and tried to identify methods of self-reliance, we continued to work and managed to supply seeds for growing food for Croatian citizens”, said Davor Žmegač, President of the Board of Petrokemija.

The present situation and the structure of Petrokemija’s assets and liabilities, and the current level of managing the structure and transformation of business processes in crisis conditions have proved that Petrokemija is capable of facing the challenges of the next period with confidence. A strategy for the development of Petrokemija that is being developed for the period from 2020 to 2030 will offer shareholders a projection of the company growth during the next decade, when the management hopes to bring Petrokemija among the ten percent of the best performing companies of this type in Europe.

 

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