With total revenues of 636.6 million kuna and a net profit of 32.8 million kuna in 2009, we are in a position to assist in the further development of the capital market, said the CEO of Končar – Distribution and Special Transformers, Ivan Klapan, at the ceremonial signing of the contract regarding the listing of the additional share issue of the company.
Thus, the company’s share capital will increase from 38.3 million kuna to 76.7 million kuna, and the total number of shares will rise from 127,808 to 255,616. – We are pursuing a profit policy, part of which is paid out as dividends, while part is retained in capital. We contribute to the liquidity of shares in the market, and our capital will also appear more serious. This will also enable us to continue our policy of forming reserves – emphasized Petar Vlaić, a member of the Management Board of Končar D&ST, who presented basic data about the company that exports to about thirty countries worldwide, and last year achieved exports worth 501.2 million kuna. In the last five years, they have recorded steady growth in sales revenue and exports, with exports increasing from 20 million euros in 2004 to 70 million euros in 2009, while sales revenue grew from 30 million euros to nearly 90 million euros. Growth continued in 2010, Vlaić emphasized, and for the next year, they are preparing a new factory layout and an investment in the ‘VN Laboratory’ worth 12 million euros, of which part will be financed from their own funds, and the rest from loans. On Wednesday, November 10, at the end of the day, the Central Clearing Depository will determine the rights to the shares of the new issue, and trading on the Zagreb Stock Exchange will begin on November 11. (J.T.)
