Liquidity and profitability of wineries in selected municipalities of AP Vojvodina

Abstract

Wine tourism has a great potential in the agro-industrial sector of Serbia and must be intensively developed in order to provide positive local and regional effects on the economy. The proper development of wine sector will have positive effects on economic flows. The positive implications will be manifested in generating of income from the sale market-oriented products, as well as, the employment of new people in this segment of the economy. The aim of this paper is to point out the importance of wineries in AP Vojvodina with a focus on four municipalities: Beocin, Irig, Novi Sad and Sremski Karlovci. The subject of the paper includes the analysis of wineries business in selected municipalities from the aspect of liquidity and profitability for the period 2006-2019. The analysis results show that the observed wineries achieved average values of general and quick liquidity of 1.51, and 0.79. On the other hand, wineries recorded average return on assets of 0.03% and average return on equity of 0.73% in the observed period. Analyzing by the municipalities, it can conclude that wineries in Irig and Novi Sad were profitable, while this was not the case with wineries in Beočin and Sremski Karlovci for the observed period.