Koncar Group nets HRK 20.14 mn in first nine months

ZAGREB, Oct 31 (Croatia Sun News) – In the first nine months of 2019 the Koncar electrical, transport and energy group earned a net profit of HRK 20.14 million, which is 71.8% less than in the same period of 2018, shows a financial report the company released on Wednesday.

The group’s total revenues amounted to HRK 1.97 billion, a drop of 2.4%, while total revenues increased by 0.2% to HRK 1.94 billion.

Operating revenues totalled HRK 1.94 billion, a drop of 1.7% compared to the same period of 2018. Sales revenues accounted for 96.5% of total operating revenues.

The group’s expenditure amounted to HRK 1.92 billion, up 0.8%.

The pre-tax consolidated profit was HRK 34.4 billion, while in the same period of 2018 it totalled HRK 85.8 million.

The group’s consolidated results are lower than those in the first nine months of 2018 mostly due to the delay and blockade of several important contracts, including a project to build a hydroelectric power plant in Bosnia and Herzegovina and a delay in the implementation of a contract for the delivery of equipment to an Iranian client due to the latest round of sanctions against Iran, the group said.

(€1 = HRK 7.4)

(Source: Hina)

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